BP p.l.c. (NYSE:BP) Short Interest Down 10.7% in June

BP p.l.c. (NYSE:BP) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 5,860,000 shares, a decrease of 10.7% from the May 31st total of 6,560,000 shares. Based on an average daily volume of 8,900,000 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BP. StockNews.com downgraded shares of BP from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Raymond James increased their price target on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Erste Group Bank reiterated a “hold” rating on shares of BP in a research report on Friday, June 14th. Wells Fargo & Company increased their price target on shares of BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler increased their price target on shares of BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

BP Price Performance

NYSE BP traded up $0.21 on Wednesday, reaching $36.97. The company had a trading volume of 3,536,628 shares, compared to its average volume of 8,759,398. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $103.00 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The firm’s 50 day moving average price is $36.92 and its 200 day moving average price is $36.55. BP has a 12 month low of $33.52 and a 12 month high of $40.84.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $48.88 billion during the quarter, compared to the consensus estimate of $53.65 billion. BP had a net margin of 4.51% and a return on equity of 13.49%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 earnings per share. As a group, equities analysts predict that BP will post 4.72 earnings per share for the current year.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 17th were issued a $0.4362 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.72%. BP’s dividend payout ratio (DPR) is presently 53.92%.

Institutional Trading of BP

Large investors have recently made changes to their positions in the business. LRI Investments LLC bought a new stake in shares of BP in the 1st quarter worth about $31,000. First United Bank & Trust purchased a new position in shares of BP during the 4th quarter worth about $33,000. Versant Capital Management Inc purchased a new position in shares of BP during the 4th quarter worth about $35,000. Guardian Wealth Management Inc. boosted its stake in shares of BP by 576.0% during the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 962 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of BP during the 4th quarter worth about $46,000. 11.01% of the stock is currently owned by institutional investors.

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.