Sumitomo Mitsui Trust Group Inc. Has $5.23 Million Stock Position in BP p.l.c. $BP

Sumitomo Mitsui Trust Group Inc. raised its position in BP p.l.c. (NYSE:BP) by 62.7% during the first quarter, HoldingsChannel.com reports. The firm owned 111,261 shares of the oil and gas exploration company’s stock after buying an additional 42,894 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in BP were worth $5,229,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BP. Rhumbline Advisers grew its stake in shares of BP by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 39,146 shares of the oil and gas exploration company’s stock valued at $1,172,000 after buying an additional 1,588 shares in the last quarter. Gamco Investors INC. ET AL raised its position in BP by 7.4% during the second quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock valued at $248,000 after acquiring an additional 568 shares in the last quarter. IHT Wealth Management LLC lifted its stake in BP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock valued at $375,000 after acquiring an additional 398 shares during the last quarter. WFA of San Diego LLC bought a new stake in BP in the second quarter worth approximately $46,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of BP by 7.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock worth $198,000 after purchasing an additional 374 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Price Performance

NYSE BP opened at $41.44 on Wednesday. BP p.l.c. has a 1 year low of $31.58 and a 1 year high of $48.27. The company has a fifty day simple moving average of $41.54 and a 200 day simple moving average of $40.94. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The company has a market cap of $108.52 billion, a P/E ratio of 34.53, a P/E/G ratio of 0.74 and a beta of 0.17.

BP (NYSE:BP) last announced its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. BP had a net margin of 1.62% and a return on equity of 12.06%. The firm had revenue of $52.26 billion for the quarter, compared to the consensus estimate of $48.50 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that BP p.l.c. will post 5.19 EPS for the current year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a dividend of $0.4992 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, May 15th. BP’s payout ratio is currently 165.00%.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP expects a sizable boost to Q2 earnings from elevated oil and gas prices, especially after recent Middle East supply disruptions pushed crude to multi-year highs. BP signals stronger Q2 oil trading results, lower net debt
• Positive Sentiment: Stronger refining margins and better trading performance are expected to offset lower upstream output, helping reinforce earnings resilience. BP expects upstream output to fall second quarter in line with guidance
• Positive Sentiment: BP’s falling net debt is reassuring investors that cash generation remains solid even with operational disruptions and maintenance-related production declines. BP flags boost from oil prices, refining margins as net debt falls
• Neutral Sentiment: Analysts and media reports say BP’s Q2 production is likely to come in below Q1, but this appears to be largely in line with guidance and is being outweighed by stronger pricing.
• Negative Sentiment: BP also disclosed about a $1 billion impairment tied to its low-carbon strategy reset, which is a reminder that the energy-transition pivot remains costly. BP unveils fresh £750m blow from failed bet on net zero

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BP shares. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating and set a $49.40 price objective for the company in a research note on Tuesday, March 24th. Weiss Ratings restated a “hold (c-)” rating on shares of BP in a report on Thursday, June 18th. Zacks Research cut BP from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. UBS Group upgraded BP from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen downgraded BP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.14.

BP Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.