BP Target of Unusually High Options Trading (NYSE:BP)

BP p.l.c. (NYSE:BP) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 114,113 call options on the stock. This represents an increase of approximately 387% compared to the average volume of 23,426 call options.

BP Stock Performance

Shares of BP traded down $0.45 during trading hours on Thursday, reaching $36.41. 4,049,095 shares of the company traded hands, compared to its average volume of 9,887,939. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.21. The stock’s fifty day moving average is $34.60 and its 200 day moving average is $32.50. BP has a 1-year low of $25.22 and a 1-year high of $37.64. The stock has a market cap of $95.77 billion, a P/E ratio of 173.44, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.13. BP had a return on equity of 9.08% and a net margin of 0.29%.The firm had revenue of $48.42 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.4992 per share. This is an increase from BP’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, November 14th. BP’s dividend payout ratio is presently 339.66%.

Institutional Investors Weigh In On BP

Several institutional investors and hedge funds have recently bought and sold shares of the business. IHT Wealth Management LLC boosted its position in shares of BP by 3.3% during the 2nd quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock valued at $375,000 after acquiring an additional 398 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in BP by 6.0% during the first quarter. Great Lakes Advisors LLC now owns 8,022 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 451 shares during the period. Gamco Investors INC. ET AL boosted its holdings in BP by 7.4% during the second quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock valued at $248,000 after purchasing an additional 568 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in shares of BP by 1.6% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 37,941 shares of the oil and gas exploration company’s stock worth $1,136,000 after buying an additional 592 shares in the last quarter. Finally, TIAA Trust National Association lifted its position in shares of BP by 3.1% during the 2nd quarter. TIAA Trust National Association now owns 20,657 shares of the oil and gas exploration company’s stock worth $618,000 after buying an additional 627 shares during the period. Institutional investors own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BP. Piper Sandler upped their target price on BP from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday. DZ Bank upgraded BP from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. Melius Research began coverage on shares of BP in a research note on Wednesday, August 20th. They issued a “buy” rating and a $66.00 price objective for the company. Santander upgraded shares of BP to an “outperform” rating in a research note on Monday, November 3rd. Finally, Scotiabank reiterated an “outperform” rating on shares of BP in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

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.