Nicholas Hoffman & Company LLC. Boosts Position in BP p.l.c. (NYSE:BP)

Nicholas Hoffman & Company LLC. lifted its position in BP p.l.c. (NYSE:BP) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,113 shares of the oil and gas exploration company’s stock after buying an additional 699 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in BP were worth $419,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BP. EverSource Wealth Advisors LLC raised its stake in BP by 2.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 13,245 shares of the oil and gas exploration company’s stock valued at $469,000 after purchasing an additional 333 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of BP by 5.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 7,083 shares of the oil and gas exploration company’s stock valued at $274,000 after buying an additional 345 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of BP by 1.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 20,715 shares of the oil and gas exploration company’s stock worth $733,000 after acquiring an additional 345 shares during the last quarter. Confluence Wealth Services Inc. grew its position in BP by 5.6% in the third quarter. Confluence Wealth Services Inc. now owns 10,962 shares of the oil and gas exploration company’s stock worth $424,000 after acquiring an additional 577 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in BP by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 586 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

BP Trading Down 1.8 %

BP stock traded down $0.70 during trading hours on Tuesday, reaching $38.78. The stock had a trading volume of 12,080,435 shares, compared to its average volume of 9,552,481. The stock has a market cap of $109.20 billion, a PE ratio of 7.62, a PEG ratio of 2.71 and a beta of 0.68. The company has a fifty day simple moving average of $37.67 and a 200-day simple moving average of $36.51. 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 52 week low of $33.52 and a 52 week high of $40.84.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 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 business had revenue of $52.14 billion during the quarter, compared to analyst estimates of $53.14 billion. During the same quarter in the prior year, the company posted $1.59 EPS. BP’s quarterly revenue was down 24.7% compared to the same quarter last year. Analysts forecast that BP p.l.c. will post 5.02 EPS for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 16th were given a $0.4362 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.74 annualized dividend and a dividend yield of 4.50%. BP’s dividend payout ratio is 33.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BP. Erste Group Bank upgraded BP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. TD Securities increased their price target on shares of BP from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Scotiabank boosted their price objective on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on shares of BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, Piper Sandler boosted their price target on shares of BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, BP currently has an average rating of “Hold” and a consensus target price of $43.72.

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.