Bridges Investment Management Inc. Has $229,000 Stock Position in BP p.l.c. (NYSE:BP)

Bridges Investment Management Inc. lowered its position in shares of BP p.l.c. (NYSE:BP) by 8.4% in the fourth quarter, HoldingsChannel reports. The firm owned 7,738 shares of the oil and gas exploration company’s stock after selling 710 shares during the period. Bridges Investment Management Inc.’s holdings in BP were worth $229,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Asset Planning Inc bought a new position in shares of BP in the fourth quarter worth about $40,000. Bank & Trust Co raised its stake in shares of BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after acquiring an additional 1,700 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after acquiring an additional 646 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of BP by 58.7% in the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock worth $98,000 after acquiring an additional 1,154 shares during the last quarter. Finally, Independence Bank of Kentucky raised its stake in shares of BP by 1,867.9% in the fourth quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company’s stock worth $236,000 after acquiring an additional 7,565 shares during the last quarter. 11.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James boosted their target price on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Wolfe Research set a $50.00 price target on shares of BP in a research note on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Finally, Piper Sandler dropped their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Down 3.9 %

Shares of NYSE BP opened at $31.82 on Tuesday. The stock has a market cap of $85.19 billion, a P/E ratio of 397.80, a P/E/G ratio of 1.12 and a beta of 0.64. BP p.l.c. has a 52-week low of $27.82 and a 52-week high of $40.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25. The firm has a 50 day moving average price of $31.88 and a 200 day moving average price of $31.34.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share 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%. Analysts expect that BP p.l.c. will post 3.53 EPS for the current year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, February 21st. BP’s dividend payout ratio (DPR) 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.