Hoese & Co LLP Buys New Holdings in BP p.l.c. $BP

Hoese & Co LLP purchased a new stake in BP p.l.c. (NYSE:BP) in the third quarter, according to its most recent filing with the SEC. The fund purchased 18,928 shares of the oil and gas exploration company’s stock, valued at approximately $832,000. BP comprises 0.5% of Hoese & Co LLP’s portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new position in BP in the first quarter worth $39,000. Security National Bank of Sioux City Iowa IA bought a new stake in BP during the second quarter valued at $36,000. Sawyer & Company Inc bought a new stake in BP during the third quarter valued at $49,000. Gill Capital Partners LLC raised its holdings in shares of BP by 53.2% during the second quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company’s stock worth $51,000 after purchasing an additional 478 shares during the period. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of BP during the third quarter worth $73,000. 11.01% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: Zacks named BP a Rank #1 (Strong Buy) growth stock for October 21, providing a favorable short-term sentiment signal and potentially supporting investor demand. Best Growth Stocks to Buy for October 21st
• Positive Sentiment: BP and TechnipFMC signed a memorandum of understanding covering 20,000-psi subsea production systems for BP’s Paleogene projects in the Gulf of America. The agreement supports BP’s higher-pressure offshore development pipeline, although it is not yet a binding equipment contract. TechnipFMC and bp Sign MoU for Supply of 20K Subsea Production Systems
• Neutral Sentiment: Heavy online searches for BP indicate elevated investor interest but do not by themselves represent a change in earnings outlook or valuation. Investors Heavily Search BP p.l.c.
• Neutral Sentiment: A separate report on BP Marsh & Partners (AIM: BPM) concerns a different company and should not be interpreted as news about BP p.l.c. BP Marsh & Partners Earnings Report
• Negative Sentiment: BP’s retreat from the UK North Sea highlights declining production and a reported 78% tax rate, reinforcing concerns about the region’s economics and near-term production growth. The divestitures may improve capital allocation over time but reduce BP’s exposure to existing UK output. As BP Leaves the North Sea, These Independents Are Buying In
• Negative Sentiment: New reports that Gulf marine life has not fully recovered from the Deepwater Horizon spill renew environmental, litigation and reputational risks for BP, although the articles do not announce a new financial charge. Marine Life Recovery After Deepwater Horizon

Wall Street Analysts Forecast Growth

BP has been the subject of several research reports. Freedom Capital raised shares of BP from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of BP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Piper Sandler increased their price objective on shares of BP from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. HSBC raised shares of BP from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.30 in a report on Friday, September 25th. Finally, Barclays restated an “overweight” rating on shares of BP in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

BP Stock Performance

BP stock opened at $49.82 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. The stock has a market capitalization of $130.52 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 0.46 and a beta of 0.20. BP p.l.c. has a 1 year low of $33.22 and a 1 year high of $50.27. The stock’s fifty day moving average is $45.03 and its two-hundred day moving average is $43.66.

BP (NYSE:BP) last released its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The business had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s quarterly revenue was up 106.1% on a year-over-year basis. On average, research analysts predict that BP p.l.c. will post 7.88 EPS for the current year.

BP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were given a $0.5196 dividend. This is a positive change from BP’s previous quarterly dividend of $0.4992. The ex-dividend date was Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 4.2%. BP’s payout ratio is currently 100.49%.

BP Profile

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.