EverSource Wealth Advisors LLC Acquires 498 Shares of BP p.l.c. (NYSE:BP)

EverSource Wealth Advisors LLC lifted its holdings in shares of BP p.l.c. (NYSE:BP) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,087 shares of the oil and gas exploration company’s stock after acquiring an additional 498 shares during the period. EverSource Wealth Advisors LLC’s holdings in BP were worth $534,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in BP. GAMMA Investing LLC boosted its stake in BP by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock worth $104,000 after acquiring an additional 586 shares during the last quarter. PSquared Asset Management AG acquired a new position in BP during the fourth quarter worth $50,315,000. OLD Mission Capital LLC increased its holdings in BP by 145.5% during the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after buying an additional 388,931 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of BP in the second quarter valued at $2,620,000. Finally, LRI Investments LLC acquired a new position in shares of BP in the first quarter valued at $32,000. 11.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of BP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $49.90 to $41.50 in a research report on Monday, July 15th. Erste Group Bank reaffirmed a “hold” rating on shares of BP in a research note on Friday, June 14th. Wells Fargo & Company decreased their target price on shares of BP from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Hsbc Global Res raised shares of BP to a “hold” rating in a research report on Thursday, August 8th. Finally, StockNews.com cut BP from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.23.

BP Stock Up 0.7 %

Shares of BP opened at $32.86 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. BP p.l.c. has a 12-month low of $30.67 and a 12-month high of $40.84. The business’s 50 day moving average is $33.65 and its 200 day moving average is $35.99. The company has a market capitalization of $91.01 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 3.96 and a beta of 0.64.

BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The firm had revenue of $47.30 billion during the quarter, compared to analysts’ expectations of $55.82 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts expect that BP p.l.c. will post 3.96 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 9th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 5.84%. This is a boost from BP’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, August 9th. BP’s dividend payout ratio is currently 59.56%.

BP Profile

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.