Horizon Investments LLC Purchases 640 Shares of BP p.l.c. (NYSE:BP)

Horizon Investments LLC raised its position in BP p.l.c. (NYSE:BP) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,753 shares of the oil and gas exploration company’s stock after acquiring an additional 640 shares during the quarter. Horizon Investments LLC’s holdings in BP were worth $584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in BP by 30.1% in the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after acquiring an additional 110,019 shares during the period. SVB Wealth LLC purchased a new stake in shares of BP in the 4th quarter worth about $588,000. Avior Wealth Management LLC boosted its stake in shares of BP by 83.3% during the 4th quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after purchasing an additional 24,252 shares in the last quarter. Altrius Capital Management Inc raised its stake in BP by 16.6% in 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 buying an additional 38,751 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in BP by 2.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock worth $19,526,000 after buying an additional 14,436 shares during the period. 11.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BP shares. Raymond James increased their target price on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler lowered their price objective on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley decreased their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.48.

BP Stock Up 1.1 %

BP stock opened at $34.61 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The stock has a market capitalization of $92.65 billion, a P/E ratio of 432.62, a P/E/G ratio of 1.12 and a beta of 0.58. The business has a fifty day moving average price of $32.56 and a 200-day moving average price of $31.24.

BP (NYSE:BP) last posted its earnings results 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%. Equities analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a yield of 5.55%. BP’s dividend payout ratio is presently 2,375.00%.

About BP

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.