BP p.l.c. (NYSE:BP) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in BP p.l.c. (NYSE:BP) by 74.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,804 shares of the oil and gas exploration company’s stock after selling 97,718 shares during the period. Geode Capital Management LLC’s holdings in BP were worth $1,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BP. ST Germain D J Co. Inc. grew its position in shares of BP by 9.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock worth $143,000 after acquiring an additional 377 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in BP by 3.4% in the second quarter. EverSource Wealth Advisors LLC now owns 15,087 shares of the oil and gas exploration company’s stock worth $534,000 after purchasing an additional 498 shares during the period. Rhumbline Advisers raised its holdings in shares of BP by 2.0% during the second quarter. Rhumbline Advisers now owns 29,235 shares of the oil and gas exploration company’s stock worth $1,055,000 after purchasing an additional 571 shares during the period. ORG Partners LLC lifted its position in shares of BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after buying an additional 621 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in shares of BP by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 14,123 shares of the oil and gas exploration company’s stock valued at $444,000 after buying an additional 652 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

BP has been the topic of a number of recent research reports. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a report on Friday, October 11th. Scotiabank lowered BP from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. Redburn Atlantic cut BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Piper Sandler lowered their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating, four have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.89.

BP Stock Performance

BP opened at $31.13 on Friday. The business has a 50 day moving average price of $29.44 and a two-hundred day moving average price of $32.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. The company has a market capitalization of $83.18 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The business had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The company’s revenue was down 11.3% on a year-over-year basis. Research analysts predict that BP p.l.c. will post 3.55 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 8th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend was Friday, November 8th. BP’s dividend payout ratio is presently 200.00%.

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.