Valeo Financial Advisors LLC Has $1.87 Million Stake in BP p.l.c. (NYSE:BP)

Valeo Financial Advisors LLC boosted its stake in shares of BP p.l.c. (NYSE:BP) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,691 shares of the oil and gas exploration company’s stock after acquiring an additional 4,593 shares during the period. Valeo Financial Advisors LLC’s holdings in BP were worth $1,872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First United Bank & Trust acquired a new stake in BP in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc bought a new position in shares of BP during the 4th quarter worth approximately $35,000. Guardian Wealth Management Inc. grew its position in shares of BP by 576.0% during the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 962 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in shares of BP in the 4th quarter valued at $46,000. Finally, Harbor Investment Advisory LLC boosted its stake in BP by 200.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 1,060 shares in the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of BP in a research note on Friday, June 14th. TD Securities boosted their target price on BP from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Scotiabank increased their price target on BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Raymond James boosted their price objective on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company increased their target price on BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, BP presently has an average rating of “Moderate Buy” and a consensus price target of $43.88.

BP Price Performance

Shares of NYSE:BP opened at $36.98 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The stock has a market cap of $103.01 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The stock’s fifty day simple moving average is $36.92 and its two-hundred day simple moving average is $36.55. BP p.l.c. has a 1-year low of $33.52 and a 1-year high of $40.84.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). BP had a net margin of 4.51% and a return on equity of 13.49%. The firm had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. During the same period in the previous year, the business earned $1.66 earnings per share. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, analysts forecast that BP p.l.c. will post 4.72 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 17th were issued a $0.4362 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Thursday, May 16th. BP’s dividend payout ratio is presently 53.92%.

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.