BP p.l.c. $BP Stock: Fisher Asset Management LLC Trims Stake

Fisher Asset Management LLC trimmed its position in shares of BP p.l.c. (NYSE:BP) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,437,382 shares of the oil and gas exploration company’s stock after selling 873,034 shares during the quarter. Fisher Asset Management LLC owned about 2.50% of BP worth $2,878,590,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Curry Webb Wealth Management LLC bought a new position in shares of BP during the 3rd quarter worth approximately $33,000. Security National Bank of Sioux City Iowa IA acquired a new stake in BP in the second quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC boosted its stake in BP by 100.2% in the third quarter. Financial Network Wealth Advisors LLC now owns 991 shares of the oil and gas exploration company’s stock valued at $44,000 after acquiring an additional 496 shares in the last quarter. Sawyer & Company Inc purchased a new position in BP in the third quarter worth $49,000. Finally, Gill Capital Partners LLC grew its holdings in BP by 53.2% in 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 last quarter. 11.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BP. Weiss Ratings upgraded BP from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 22nd. Zacks Research upgraded BP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 8th. 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. BTIG Research cut shares of BP to a “neutral” rating in a research note on Thursday, October 1st. Finally, DA Davidson set a $49.00 target price on shares of BP in a research report on Tuesday, October 20th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.90.

BP Stock Performance

NYSE BP opened at $45.85 on Friday. BP p.l.c. has a fifty-two week low of $33.22 and a fifty-two week high of $51.49. The firm has a market capitalization of $120.12 billion, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 0.35 and a beta of 0.16. The stock’s fifty day moving average is $46.38 and its two-hundred day moving average is $43.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.29.

BP (NYSE:BP) last posted its earnings results on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.60. BP had a net margin of 3.74% and a return on equity of 24.67%. The company had revenue of $68.40 billion for the quarter, compared to analyst estimates of $63.14 billion. During the same period in the previous year, the business posted $0.85 EPS. BP’s revenue was up 41.8% on a year-over-year basis. On average, research analysts anticipate that BP p.l.c. will post 8.46 earnings per share for the current year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.5196 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 annualized dividend and a yield of 4.5%. BP’s dividend payout ratio (DPR) is 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.