BP p.l.c. (NYSE:BP) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its stake in BP p.l.c. (NYSE:BP) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,278 shares of the oil and gas exploration company’s stock after selling 2,446 shares during the quarter. TIAA Trust National Association’s holdings in BP were worth $570,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp grew its position in BP by 30.1% in the 4th quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock valued at $14,040,000 after buying an additional 110,019 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of BP in the fourth quarter valued at about $588,000. Avior Wealth Management LLC increased its stake in shares of BP by 83.3% during the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock worth $1,577,000 after acquiring an additional 24,252 shares during the period. Altrius Capital Management Inc raised its holdings in BP by 16.6% during the fourth quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock worth $8,056,000 after purchasing an additional 38,751 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its holdings in BP by 92.6% in the 4th quarter. Cozad Asset Management Inc. now owns 43,818 shares of the oil and gas exploration company’s stock valued at $1,295,000 after purchasing an additional 21,064 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BP has been the subject of several recent analyst reports. Wolfe Research set a $50.00 price target on BP in a report on Tuesday, January 14th. Piper Sandler reduced their target price on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. TD Securities reaffirmed a “hold” rating and set a $36.00 price target (down from $40.00) on shares of BP in a research note on Wednesday, March 19th. Wells Fargo & Company raised their price objective on shares of BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, BP presently has an average rating of “Hold” and a consensus price target of $37.48.

BP Trading Up 0.0 %

Shares of BP stock opened at $34.43 on Friday. BP p.l.c. has a 1 year low of $27.82 and a 1 year high of $40.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The business has a 50 day moving average price of $32.93 and a 200 day moving average price of $31.32. The company has a market capitalization of $93.48 billion, a P/E ratio of 430.48, a P/E/G ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. Sell-side analysts anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Friday, February 21st. BP’s dividend payout ratio is presently 2,375.00%.

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.