Transcend Capital Advisors LLC Trims Stake in BP p.l.c. (NYSE:BP)

Transcend Capital Advisors LLC decreased its holdings in shares of BP p.l.c. (NYSE:BP) by 9.3% in the fourth quarter, HoldingsChannel reports. The fund owned 34,750 shares of the oil and gas exploration company’s stock after selling 3,578 shares during the quarter. Transcend Capital Advisors LLC’s holdings in BP were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS raised its stake in BP by 5.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after acquiring an additional 23,325 shares during the period. Meritage Portfolio Management raised its position in shares of BP by 1.4% during the 3rd quarter. Meritage Portfolio Management now owns 107,512 shares of the oil and gas exploration company’s stock valued at $3,375,000 after purchasing an additional 1,468 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of BP by 12.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,597 shares of the oil and gas exploration company’s stock valued at $301,000 after buying an additional 1,046 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in BP by 9.9% in the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after buying an additional 20,976 shares during the period. Finally, Avior Wealth Management LLC increased its stake in BP by 117.9% in the 3rd quarter. Avior Wealth Management LLC now owns 29,108 shares of the oil and gas exploration company’s stock worth $914,000 after buying an additional 15,750 shares in the last quarter. 11.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised BP from an “underweight” rating to a “neutral” rating in a research note on Thursday. Morgan Stanley dropped their price target on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Piper Sandler cut their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Raymond James boosted their price target on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.64.

BP Stock Down 2.3 %

Shares of NYSE:BP opened at $33.87 on Friday. The company has a 50-day moving average price of $31.37 and a 200 day moving average price of $31.39. BP p.l.c. has a 12 month low of $27.82 and a 12 month high of $40.40. The company has a market cap of $90.66 billion, a price-to-earnings ratio of 423.37, a PEG ratio of 1.11 and a beta of 0.64. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

BP (NYSE:BP) last released its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, equities research analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 21st will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 annualized dividend and a yield of 5.67%. BP’s dividend payout ratio (DPR) is 2,375.00%.

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.