Thurston Springer Miller Herd & Titak Inc. Acquires New Position in BP p.l.c. (NYSE:BP)

Thurston Springer Miller Herd & Titak Inc. bought a new position in BP p.l.c. (NYSE:BP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 914 shares of the oil and gas exploration company’s stock, valued at approximately $33,000.

A number of other institutional investors have also made changes to their positions in BP. PSquared Asset Management AG acquired a new position in BP in the fourth quarter valued at approximately $50,315,000. OLD Mission Capital LLC grew its stake in BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after buying an additional 388,931 shares during the last quarter. Wedge Capital Management L L P NC increased its position in BP by 15.0% in the fourth 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 buying an additional 65,425 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in BP by 13.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock valued at $17,263,000 after buying an additional 59,379 shares during the last quarter. Finally, Bollard Group LLC grew its position in shares of BP by 1.2% during the fourth quarter. Bollard Group LLC now owns 298,767 shares of the oil and gas exploration company’s stock worth $10,576,000 after acquiring an additional 3,524 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley downgraded shares of BP from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $49.90 to $41.50 in a research report on Monday, July 15th. UBS Group raised BP to a “strong-buy” rating in a report on Tuesday, July 30th. Evercore ISI upgraded BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Piper Sandler reissued a “neutral” rating and set a $43.00 price target on shares of BP in a report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of BP from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.23.

BP Trading Down 0.2 %

Shares of BP traded down $0.05 during midday trading on Tuesday, hitting $32.94. The stock had a trading volume of 8,451,562 shares, compared to its average volume of 8,650,713. The business has a 50-day simple moving average of $35.62 and a two-hundred day simple moving average of $36.57. BP p.l.c. has a fifty-two week low of $32.51 and a fifty-two week high of $40.84. The company has a current ratio of 1.24, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The firm has a market cap of $91.23 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 2.05 and a beta of 0.65.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The business had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that BP p.l.c. will post 4.24 EPS for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 9th will be paid a $0.48 dividend. The ex-dividend date is Friday, August 9th. This is a boost from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 5.83%. BP’s payout ratio is 59.56%.

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.