Hexagon Capital Partners LLC Increases Stake in BP p.l.c. (NYSE:BP)

Hexagon Capital Partners LLC boosted its stake in BP p.l.c. (NYSE:BP) by 45.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,332 shares of the oil and gas exploration company’s stock after purchasing an additional 3,249 shares during the period. Hexagon Capital Partners LLC’s holdings in BP were worth $366,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in shares of BP by 32.7% during the third quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock valued at $54,909,000 after buying an additional 349,766 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of BP by 15.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock valued at $17,725,000 after buying an additional 65,425 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of BP by 2.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 467,250 shares of the oil and gas exploration company’s stock valued at $18,092,000 after buying an additional 11,000 shares during the period. Altrius Capital Management Inc increased its stake in shares of BP by 0.7% during the fourth quarter. Altrius Capital Management Inc now owns 185,449 shares of the oil and gas exploration company’s stock valued at $6,565,000 after buying an additional 1,229 shares during the period. Finally, Butensky & Cohen Financial Security Inc. increased its stake in shares of BP by 1.2% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 120,802 shares of the oil and gas exploration company’s stock valued at $4,276,000 after buying an additional 1,381 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Price Performance

Shares of BP stock traded down $0.50 during trading on Wednesday, reaching $38.27. 1,869,562 shares of the stock traded hands, compared to its average volume of 9,473,935. The company has a market capitalization of $107.78 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 2.71 and a beta of 0.68. The business has a fifty day simple moving average of $37.67 and a two-hundred day simple moving average of $36.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. BP p.l.c. has a 52-week low of $33.52 and a 52-week high of $40.84.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The company had revenue of $52.14 billion during the quarter, compared to analyst estimates of $53.14 billion. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue was down 24.7% on a year-over-year basis. Sell-side analysts expect that BP p.l.c. will post 5.02 EPS for the current year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 16th were paid a dividend of $0.4362 per share. This represents a $1.74 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio is presently 33.79%.

Analysts Set New Price Targets

BP has been the topic of several research reports. Raymond James lifted their price target on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Piper Sandler boosted their target price on BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. TD Securities boosted their target price on BP from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.60 to $42.30 in a report on Monday, March 4th. Finally, Wells Fargo & Company increased their target price on BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, BP currently has an average rating of “Hold” and an average price target of $43.72.

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.