Delta Capital Management LLC Sells 6,580 Shares of BP p.l.c. (NYSE:BP)

Delta Capital Management LLC trimmed its holdings in shares of BP p.l.c. (NYSE:BP) by 8.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,780 shares of the oil and gas exploration company’s stock after selling 6,580 shares during the period. Delta Capital Management LLC’s holdings in BP were worth $2,181,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BP. Bank & Trust Co grew its position in BP by 404.8% during the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after purchasing an additional 1,700 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of BP by 41.0% during the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after buying an additional 646 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of BP during the second quarter valued at approximately $75,000. ORG Partners LLC raised its holdings in BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after acquiring an additional 621 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in BP in the 3rd quarter valued at approximately $91,000. 11.01% of the stock is owned by institutional investors.

BP Price Performance

Shares of BP stock opened at $31.70 on Friday. The company has a market capitalization of $84.70 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.20 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $29.65 and its 200-day simple moving average is $31.84. BP p.l.c. has a 52 week low of $27.82 and a 52 week high of $40.40.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The company had revenue of $47.25 billion for the quarter, compared to analysts’ expectations of $52.05 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, analysts expect that BP p.l.c. will post 3.45 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.06%. BP’s dividend payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Raymond James boosted their price target on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler decreased their target price on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Morgan Stanley dropped their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research note on Friday, October 11th. Eleven investment analysts have rated the stock with a hold rating, five have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Company 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.