IHT Wealth Management LLC Acquires 652 Shares of BP p.l.c. (NYSE:BP)

IHT Wealth Management LLC increased its holdings in shares of BP p.l.c. (NYSE:BP) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,123 shares of the oil and gas exploration company’s stock after acquiring an additional 652 shares during the quarter. IHT Wealth Management LLC’s holdings in BP were worth $444,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in BP by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock valued at $13,842,000 after acquiring an additional 5,150 shares during the period. Quantbot Technologies LP bought a new position in shares of BP during the third quarter worth approximately $5,089,000. Eagle Asset Management Inc. lifted its holdings in BP by 10.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 9,134 shares of the oil and gas exploration company’s stock worth $264,000 after purchasing an additional 891 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in BP in the 3rd quarter valued at $857,000. Finally, Avior Wealth Management LLC increased its position in BP by 117.9% during the 3rd quarter. Avior Wealth Management LLC now owns 29,108 shares of the oil and gas exploration company’s stock worth $914,000 after buying an additional 15,750 shares during the period. Institutional investors own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BNP Paribas cut shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Scotiabank downgraded BP from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $42.00 to $36.00 in a research report on Thursday, October 10th. Finally, StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.73.

BP Stock Down 1.5 %

BP stock opened at $28.70 on Monday. The stock has a market capitalization of $77.11 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 2.04 and a beta of 0.64. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $30.30 and a 200-day moving average price of $33.04. BP p.l.c. has a 12 month low of $27.82 and a 12 month high of $40.40.

BP (NYSE:BP) last issued its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. As a group, equities research analysts anticipate that BP p.l.c. will post 3.57 EPS for the current fiscal year.

BP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 8th will be given a $0.48 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.69%. BP’s dividend payout ratio is presently 200.00%.

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.