AdvisorNet Financial Inc Sells 954 Shares of BP p.l.c. (NYSE:BP)

AdvisorNet Financial Inc trimmed its position in BP p.l.c. (NYSE:BP) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,122 shares of the oil and gas exploration company’s stock after selling 954 shares during the quarter. AdvisorNet Financial Inc’s holdings in BP were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Altrius Capital Management Inc boosted its holdings in BP by 9.9% during the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock valued at $7,338,000 after purchasing an additional 20,976 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in BP in the 3rd quarter valued at $857,000. Kornitzer Capital Management Inc. KS raised its stake in BP by 5.4% during the third 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 in the last quarter. SG Americas Securities LLC lifted its holdings in shares of BP by 860.7% during the third quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock valued at $2,086,000 after acquiring an additional 59,546 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in shares of BP by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 646,102 shares of the oil and gas exploration company’s stock worth $20,281,000 after purchasing an additional 16,534 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Trading Up 0.7 %

BP opened at $31.31 on Thursday. BP p.l.c. has a twelve month low of $27.82 and a twelve month high of $40.40. The firm has a market cap of $83.66 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. The firm’s fifty day moving average is $29.54 and its two-hundred day moving average is $31.87.

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

BP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.13%. BP’s dividend payout ratio (DPR) is currently 200.00%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research note on Friday, October 11th. Scotiabank downgraded BP from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. BNP Paribas cut shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Redburn Atlantic downgraded BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Finally, Piper Sandler dropped their target price on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating, five have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.76.

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.