Strategic Investment Solutions Inc. IL Invests $75,000 in BP p.l.c. (NYSE:BP)

Strategic Investment Solutions Inc. IL purchased a new position in BP p.l.c. (NYSE:BP) in the second quarter, Holdings Channel reports. The fund purchased 2,077 shares of the oil and gas exploration company’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Magnolia Capital Advisors LLC acquired a new stake in shares of BP during the second quarter worth $237,000. EverSource Wealth Advisors LLC raised its stake in BP by 3.4% during 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 acquiring an additional 498 shares during the period. Gabelli Funds LLC lifted its holdings in BP by 2.2% in the second quarter. Gabelli Funds LLC now owns 360,050 shares of the oil and gas exploration company’s stock worth $12,998,000 after acquiring an additional 7,850 shares during the last quarter. Waters Parkerson & CO. LLC bought a new position in shares of BP during the second quarter valued at approximately $264,000. Finally, Bridges Investment Management Inc. raised its position in shares of BP by 20.2% during the 2nd quarter. Bridges Investment Management Inc. now owns 8,638 shares of the oil and gas exploration company’s stock worth $312,000 after purchasing an additional 1,450 shares during the period. 11.01% of the stock is owned by institutional investors.

BP Trading Up 0.9 %

Shares of BP stock opened at $32.37 on Thursday. The business has a fifty day simple moving average of $33.18 and a 200-day simple moving average of $35.74. The firm has a market cap of $89.67 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64. BP p.l.c. has a fifty-two week low of $30.52 and a fifty-two week high of $40.84. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.62.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The company had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that BP p.l.c. will post 3.85 EPS for the current fiscal year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Friday, August 9th. This is an increase from BP’s previous quarterly dividend of $0.44. BP’s dividend payout ratio is 59.56%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price objective on BP from $39.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Evercore ISI raised shares of BP to a “strong-buy” rating in a report on Wednesday, July 31st. Hsbc Global Res raised shares of BP to a “hold” rating in a research note on Thursday, August 8th. Argus upgraded shares of BP to a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays raised BP to a “strong-buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

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.