BP p.l.c. (NYSE:BP) Shares Acquired by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of BP p.l.c. (NYSE:BP) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,520 shares of the oil and gas exploration company’s stock after acquiring an additional 1,388 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in BP were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BP. Bank of New York Mellon Corp grew its holdings in shares of BP by 30.1% in the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock valued at $14,040,000 after purchasing an additional 110,019 shares in the last quarter. Altrius Capital Management Inc grew its holdings in shares of BP by 16.6% in the fourth 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 purchasing an additional 38,751 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of BP in the fourth quarter valued at approximately $588,000. Jones Financial Companies Lllp grew its holdings in shares of BP by 28.0% in the fourth quarter. Jones Financial Companies Lllp now owns 93,615 shares of the oil and gas exploration company’s stock valued at $2,767,000 after purchasing an additional 20,491 shares in the last quarter. Finally, United Community Bank grew its holdings in shares of BP by 11.5% in the fourth quarter. United Community Bank now owns 9,232 shares of the oil and gas exploration company’s stock valued at $273,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen cut shares of BP from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Wednesday, March 19th. Jefferies Financial Group set a $29.00 price target on shares of BP and gave the stock a “hold” rating in a research note on Monday, May 19th. Morgan Stanley downgraded shares of BP from an “equal weight” rating to an “underweight” rating and set a $26.50 price target for the company. in a research note on Monday, May 12th. Piper Sandler decreased their price target on shares of BP from $35.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, UBS Group downgraded shares of BP from a “buy” rating to a “neutral” rating in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.72.

BP Stock Up 0.1%

Shares of NYSE:BP opened at $30.32 on Friday. The company has a market capitalization of $81.47 billion, a PE ratio of -65.91, a P/E/G ratio of 1.97 and a beta of 0.54. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. BP p.l.c. has a twelve month low of $25.22 and a twelve month high of $37.39. The firm has a 50 day simple moving average of $29.55 and a 200-day simple moving average of $30.72.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The company had revenue of $46.91 billion for the quarter, compared to analysts’ expectations of $40.12 billion. BP had a positive return on equity of 9.51% and a negative net margin of 0.62%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. On average, equities analysts predict that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 16th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.33%. BP’s payout ratio is -413.04%.

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.