Lee Danner & Bass Inc. Cuts Stock Holdings in BP p.l.c. (NYSE:BP)

Lee Danner & Bass Inc. reduced its position in shares of BP p.l.c. (NYSE:BP) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,293 shares of the oil and gas exploration company’s stock after selling 1,518 shares during the period. Lee Danner & Bass Inc.’s holdings in BP were worth $2,403,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in BP during the fourth quarter worth about $40,000. Bank & Trust Co grew its position in BP by 404.8% during the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc grew its position in BP by 41.0% during the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares during the period. Anchor Investment Management LLC grew its position in BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock worth $98,000 after buying an additional 1,154 shares during the period. Finally, Wellington Shields Capital Management LLC grew its position in BP by 26.9% during the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock worth $223,000 after buying an additional 1,600 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wolfe Research set a $50.00 target price on shares of BP in a research report on Tuesday, January 14th. StockNews.com cut shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Piper Sandler dropped their price objective 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, TD Cowen cut shares of BP from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.48.

BP Stock Up 0.4 %

BP stock opened at $34.77 on Friday. The stock has a market capitalization of $93.07 billion, a P/E ratio of 434.62, a PEG ratio of 1.12 and a beta of 0.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25. BP p.l.c. has a one year low of $27.82 and a one year high of $40.40. The company has a 50 day moving average price of $32.63 and a two-hundred day moving average price of $31.27.

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 the consensus estimate of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. As a group, sell-side analysts expect that BP p.l.c. will post 3.53 EPS for the current year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 21st will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.52%. BP’s dividend payout ratio (DPR) is presently 2,375.00%.

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.