BP p.l.c. $BP Stock Position Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in BP p.l.c. (NYSE:BP) by 62.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,261 shares of the oil and gas exploration company’s stock after acquiring an additional 42,894 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in BP were worth $5,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in shares of BP by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 39,146 shares of the oil and gas exploration company’s stock worth $1,172,000 after purchasing an additional 1,588 shares in the last quarter. Gamco Investors INC. ET AL grew its position in BP by 7.4% in the second quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock worth $248,000 after buying an additional 568 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of BP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock valued at $375,000 after buying an additional 398 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of BP during the 2nd quarter valued at $46,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of BP by 7.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock worth $198,000 after acquiring an additional 374 shares in the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP expects a sizable boost to Q2 earnings from elevated oil and gas prices, especially after recent Middle East supply disruptions pushed crude to multi-year highs. BP signals stronger Q2 oil trading results, lower net debt
• Positive Sentiment: Stronger refining margins and better trading performance are expected to offset lower upstream output, helping reinforce earnings resilience. BP expects upstream output to fall second quarter in line with guidance
• Positive Sentiment: BP’s falling net debt is reassuring investors that cash generation remains solid even with operational disruptions and maintenance-related production declines. BP flags boost from oil prices, refining margins as net debt falls
• Neutral Sentiment: Analysts and media reports say BP’s Q2 production is likely to come in below Q1, but this appears to be largely in line with guidance and is being outweighed by stronger pricing.
• Negative Sentiment: BP also disclosed about a $1 billion impairment tied to its low-carbon strategy reset, which is a reminder that the energy-transition pivot remains costly. BP unveils fresh £750m blow from failed bet on net zero

BP Stock Performance

Shares of BP stock opened at $41.44 on Wednesday. The company has a market capitalization of $108.52 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 0.74 and a beta of 0.17. BP p.l.c. has a 1-year low of $31.58 and a 1-year high of $48.27. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $41.54 and its 200-day simple moving average is $40.94.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.24. The firm had revenue of $52.26 billion during the quarter, compared to analyst estimates of $48.50 billion. BP had a return on equity of 12.06% and a net margin of 1.62%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, sell-side analysts predict that BP p.l.c. will post 5.19 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a dividend of $0.4992 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 4.8%. BP’s payout ratio is presently 165.00%.

Wall Street Analysts Forecast Growth

BP has been the topic of a number of recent analyst reports. Zacks Research lowered BP from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. HSBC raised BP from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $35.10 to $45.30 in a research note on Friday, March 20th. Royal Bank Of Canada raised shares of BP from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 11th. Wells Fargo & Company raised their target price on shares of BP from $39.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Finally, BNP Paribas Exane set a $57.00 price target on shares of BP and gave the company an “outperform” rating in a report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.14.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.