Transcend Capital Advisors LLC Buys 953 Shares of BP p.l.c. $BP

Transcend Capital Advisors LLC grew its stake in shares of BP p.l.c. (NYSE:BP) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,694 shares of the oil and gas exploration company’s stock after purchasing an additional 953 shares during the quarter. Transcend Capital Advisors LLC’s holdings in BP were worth $1,068,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Kornitzer Capital Management Inc. KS increased its position in BP by 1.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 485,409 shares of the oil and gas exploration company’s stock worth $14,528,000 after purchasing an additional 7,645 shares during the last quarter. Leavell Investment Management Inc. bought a new stake in BP in the second quarter worth $216,000. Ethic Inc. increased its position in BP by 32.3% in the second quarter. Ethic Inc. now owns 19,253 shares of the oil and gas exploration company’s stock worth $584,000 after purchasing an additional 4,699 shares during the last quarter. Yousif Capital Management LLC increased its position in BP by 7.6% in the second quarter. Yousif Capital Management LLC now owns 35,056 shares of the oil and gas exploration company’s stock worth $1,049,000 after purchasing an additional 2,470 shares during the last quarter. Finally, Meritage Portfolio Management increased its position in BP by 0.7% in the second quarter. Meritage Portfolio Management now owns 164,318 shares of the oil and gas exploration company’s stock worth $4,918,000 after purchasing an additional 1,171 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BP. Weiss Ratings restated a “hold (c-)” rating on shares of BP in a research report on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating on shares of BP in a research report on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of BP in a research report on Thursday, October 9th. DZ Bank upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Finally, Melius initiated coverage on shares of BP in a research report on Wednesday, August 20th. They set a “buy” rating and a $66.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BP presently has an average rating of “Hold” and an average target price of $42.41.

BP Stock Up 0.7%

NYSE:BP opened at $34.78 on Tuesday. BP p.l.c. has a 1-year low of $25.22 and a 1-year high of $35.88. The company has a 50-day moving average of $34.35 and a 200 day moving average of $31.85. The firm has a market cap of $91.46 billion, a PE ratio of 165.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.92.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.22. BP had a net margin of 0.29% and a return on equity of 9.08%. The company had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were given a dividend of $0.4942 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from BP’s previous quarterly dividend of $0.48. This represents a $1.98 annualized dividend and a dividend yield of 5.7%. BP’s payout ratio is currently 942.86%.

BP 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.