Naples Money Management LLC Makes New $241,000 Investment in BP p.l.c. (NYSE:BP)

Naples Money Management LLC purchased a new position in BP p.l.c. (NYSE:BP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,801 shares of the oil and gas exploration company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BP. Turim 21 Investimentos Ltda. bought a new stake in shares of BP during the first quarter valued at approximately $30,000. Versant Capital Management Inc purchased a new stake in BP in the 4th quarter worth $35,000. KB Financial Partners LLC bought a new position in shares of BP during the 1st quarter valued at about $41,000. Harbor Investment Advisory LLC grew its position in shares of BP by 200.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in shares of BP in the fourth quarter worth about $70,000. 11.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BP. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and raised their price target for the company from $38.60 to $42.30 in a report on Monday, March 4th. Scotiabank raised their target price on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler upped their price target on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Finally, Raymond James upped their target price on shares of BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, BP currently has an average rating of “Hold” and an average price target of $43.72.

BP Trading Up 1.6 %

Shares of BP stock traded up $0.60 during trading on Friday, hitting $38.52. The stock had a trading volume of 10,388,385 shares, compared to its average volume of 9,489,760. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. BP p.l.c. has a 12 month low of $33.52 and a 12 month high of $40.84. The stock has a market cap of $108.48 billion, a PE ratio of 7.57, a PEG ratio of 1.96 and a beta of 0.68. The firm’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $36.47.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm had revenue of $52.14 billion during the quarter, compared to analyst estimates of $53.14 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. BP’s quarterly revenue was down 24.7% on a year-over-year basis. As a group, sell-side analysts expect that BP p.l.c. will post 4.89 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were issued a dividend of $0.4362 per share. This represents a $1.74 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, February 15th. BP’s payout ratio is 33.79%.

About BP

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.