Legacy Financial Advisors Inc. Sells 1,201 Shares of BP p.l.c. (NYSE:BP)

Legacy Financial Advisors Inc. decreased its holdings in BP p.l.c. (NYSE:BP) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,383 shares of the oil and gas exploration company’s stock after selling 1,201 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in BP were worth $651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BP. New York State Common Retirement Fund increased its position in shares of BP by 32.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock valued at $54,909,000 after purchasing an additional 349,766 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of BP by 15.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock worth $17,725,000 after purchasing an additional 65,425 shares during the period. Ativo Capital Management LLC bought a new position in BP during the fourth quarter valued at $1,174,000. Monograph Wealth Advisors LLC purchased a new stake in BP in the third quarter worth $1,163,000. Finally, TIAA Trust National Association purchased a new position in shares of BP during the 3rd quarter valued at $1,122,000. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Price Performance

Shares of NYSE:BP traded up $0.03 during trading on Friday, reaching $38.70. The company had a trading volume of 8,071,028 shares, compared to its average volume of 12,347,375. BP p.l.c. has a 12 month low of $33.52 and a 12 month high of $40.84. The company has a fifty day moving average of $37.85 and a two-hundred day moving average of $36.53. The stock has a market capitalization of $108.99 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.96 by $0.11. The firm had revenue of $52.14 billion for the quarter, compared to analyst estimates of $53.14 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. The company’s revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.59 EPS. Equities research analysts forecast that BP p.l.c. will post 5.02 earnings per share for the current year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were given a dividend of $0.4362 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.74 annualized dividend and a yield of 4.51%. BP’s payout ratio is 33.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BP shares. Piper Sandler upped their price objective on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. TD Securities lifted their price target on BP from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.60 to $42.30 in a report on Monday, March 4th. Finally, Wells Fargo & Company upped their price target on BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, BP currently has a consensus rating of “Moderate Buy” 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.