79,291 Shares in BP p.l.c. $BP Bought by Optimist Retirement Group LLC

Optimist Retirement Group LLC bought a new position in shares of BP p.l.c. (NYSE:BP) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 79,291 shares of the oil and gas exploration company’s stock, valued at approximately $3,488,000. BP makes up 1.4% of Optimist Retirement Group LLC’s investment portfolio, making the stock its 13th largest position.

A number of other hedge funds also recently added to or reduced their stakes in BP. Van ECK Associates Corp boosted its position in BP by 290.2% in the 2nd quarter. Van ECK Associates Corp now owns 2,049,151 shares of the oil and gas exploration company’s stock valued at $75,716,000 after buying an additional 1,524,048 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of BP by 48.8% in the second quarter. Alyeska Investment Group L.P. now owns 2,830,923 shares of the oil and gas exploration company’s stock worth $104,603,000 after acquiring an additional 928,617 shares in the last quarter. Kahn Brothers Group Inc. acquired a new position in shares of BP in the second quarter worth $23,094,000. Public Employees Retirement System of Ohio purchased a new stake in shares of BP during the first quarter worth $28,136,000. Finally, Readystate Asset Management LP increased its position in shares of BP by 322.4% during the second quarter. Readystate Asset Management LP now owns 619,670 shares of the oil and gas exploration company’s stock worth $22,897,000 after acquiring an additional 472,974 shares during the period. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP completed the sale of a controlling stake in Castrol, bringing in $6 billion to support its balance sheet while retaining a minority interest. BP Completes $6 Billion Castrol Sale as Stonepeak Takes Control
• Positive Sentiment: BP appointed former Shell executive Emma Lewis to lead its downstream business as CEO Meg O’Neill works to strengthen refining and fuels operations. The hire may support the company’s restructuring efforts. BP hires Shell executive Emma Lewis to lead downstream unit
• Neutral Sentiment: BP Pulse made more than 850 U.S. fast chargers easier to find and use through a roaming and app integration. This could improve customer convenience, though the reports do not quantify any financial impact. bp pulse makes 850+ EV fast chargers easier to use in the US
• Negative Sentiment: Energy executives described geopolitical risks, rising costs and uncertain oil prices as complicating investment decisions, tempering optimism about a potential decade of stronger energy demand. Energy leaders weigh the investment outlook
• Negative Sentiment: A report on energy retailers, including BP, cited declining convenience-store trips and the challenges of managing retail portfolios during corporate restructuring—potential headwinds for downstream operations. How 3 energy companies are managing their c-store portfolios

Analyst Ratings Changes

Several brokerages have recently issued reports on BP. DA Davidson set a $49.00 price objective on BP in a research note on Tuesday, October 20th. Morgan Stanley reissued an “overweight” rating on shares of BP in a research note on Friday, September 4th. Freedom Capital upgraded BP from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Oppenheimer began coverage on BP in a research report on Thursday, October 1st. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC assumed coverage on BP in a research note on Thursday, October 1st. They issued a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.90.

BP Stock Down 4.3%

Shares of NYSE BP opened at $45.56 on Thursday. The stock has a market cap of $119.36 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.16. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. BP p.l.c. has a 52-week low of $33.22 and a 52-week high of $51.49. The business has a 50-day moving average price of $46.16 and a 200 day moving average price of $43.07.

BP (NYSE:BP) last released its quarterly earnings results on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.60. The firm had revenue of $68.40 billion for the quarter, compared to the consensus estimate of $63.14 billion. BP had a return on equity of 24.67% and a net margin of 3.74%. The firm’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Equities research analysts forecast that BP p.l.c. will post 8.30 earnings per share for the current year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 13th will be issued a $0.5196 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, November 13th. BP’s dividend payout ratio is presently 60.59%.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.