IHT Wealth Management LLC Cuts Position in BP p.l.c. (NYSE:BP)

IHT Wealth Management LLC reduced its stake in shares of BP p.l.c. (NYSE:BP) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,667 shares of the oil and gas exploration company’s stock after selling 1,456 shares during the quarter. IHT Wealth Management LLC’s holdings in BP were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BP. Wedge Capital Management L L P NC grew its stake in BP by 2.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock valued at $19,526,000 after acquiring an additional 14,436 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of BP by 30.1% during the 4th quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after purchasing an additional 110,019 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of BP by 2.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company’s stock worth $13,753,000 after purchasing an additional 10,262 shares during the last quarter. Altrius Capital Management Inc lifted its stake in BP by 16.6% in the 4th quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock valued at $8,056,000 after buying an additional 38,751 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. increased its position in BP by 0.3% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock worth $3,820,000 after buying an additional 358 shares in the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen cut shares of BP from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Wednesday, March 19th. DZ Bank lowered shares of BP from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.73.

BP Stock Up 0.6 %

Shares of NYSE:BP opened at $29.17 on Friday. The stock has a 50-day simple moving average of $31.29 and a 200-day simple moving average of $30.82. The stock has a market capitalization of $79.19 billion, a P/E ratio of 364.67, a PEG ratio of 1.12 and a beta of 0.41. BP p.l.c. has a 1 year low of $25.22 and a 1 year high of $39.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. Equities analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 21st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date was Friday, February 21st. BP’s dividend payout ratio is presently 2,375.00%.

BP Company 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.