Janney Montgomery Scott LLC Lowers Stock Holdings in BP p.l.c. (NYSE:BP)

Janney Montgomery Scott LLC cut its holdings in shares of BP p.l.c. (NYSE:BP) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,259 shares of the oil and gas exploration company’s stock after selling 8,447 shares during the period. Janney Montgomery Scott LLC’s holdings in BP were worth $7,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BP. Strategic Investment Solutions Inc. IL acquired a new position in shares of BP during the 2nd quarter worth $75,000. Bank & Trust Co increased its position in shares of BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 1,700 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares during the last quarter. ORG Partners LLC grew its stake in BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after acquiring an additional 621 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in BP during the 3rd quarter valued at about $91,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Trading Down 1.0 %

NYSE:BP opened at $31.14 on Wednesday. The stock has a market cap of $84.05 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. BP p.l.c. has a one year low of $27.82 and a one year high of $40.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. The business’s 50-day simple moving average is $29.96 and its 200 day simple moving average is $31.58.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The firm had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. During the same period in the prior year, the firm posted $1.15 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, sell-side analysts predict that BP p.l.c. will post 3.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BP. BNP Paribas downgraded BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Scotiabank downgraded BP from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. Raymond James lifted their price objective on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reduced their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price objective on shares of BP from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 15th. Twelve research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, BP has a consensus rating of “Moderate Buy” and an average target price of $38.76.

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.