68,256 Shares in BP p.l.c. $BP Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in BP p.l.c. (NYSE:BP) in the third quarter, HoldingsChannel reports. The firm bought 68,256 shares of the oil and gas exploration company’s stock, valued at approximately $3,003,000.

Several other hedge funds also recently made changes to their positions in BP. HBK Sorce Advisory LLC raised its holdings in BP by 2.9% in the second quarter. HBK Sorce Advisory LLC now owns 11,424 shares of the oil and gas exploration company’s stock worth $422,000 after purchasing an additional 317 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of BP by 4.5% during the 3rd quarter. Wedmont Private Capital now owns 7,478 shares of the oil and gas exploration company’s stock valued at $347,000 after buying an additional 320 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of BP by 0.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 35,471 shares of the oil and gas exploration company’s stock worth $1,560,000 after buying an additional 327 shares during the period. Venture Visionary Partners LLC increased its stake in shares of BP by 1.3% in the 3rd quarter. Venture Visionary Partners LLC now owns 26,991 shares of the oil and gas exploration company’s stock worth $1,187,000 after acquiring an additional 349 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of BP by 4.5% in the 3rd quarter. Versant Capital Management Inc now owns 8,310 shares of the oil and gas exploration company’s stock worth $366,000 after acquiring an additional 357 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of BP from $47.00 to $49.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. Wells Fargo & Company raised their target price on shares of BP from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler boosted their price target on BP from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Freedom Capital upgraded BP from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, UBS Group lowered BP from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.90.

BP News Summary

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP completed the sale of a controlling stake in Castrol, bringing in $6 billion to support its balance sheet while retaining a minority interest. BP Completes $6 Billion Castrol Sale as Stonepeak Takes Control
• Positive Sentiment: BP appointed former Shell executive Emma Lewis to lead its downstream business as CEO Meg O’Neill works to strengthen refining and fuels operations. The hire may support the company’s restructuring efforts. BP hires Shell executive Emma Lewis to lead downstream unit
• Neutral Sentiment: BP Pulse made more than 850 U.S. fast chargers easier to find and use through a roaming and app integration. This could improve customer convenience, though the reports do not quantify any financial impact. bp pulse makes 850+ EV fast chargers easier to use in the US
• Negative Sentiment: Energy executives described geopolitical risks, rising costs and uncertain oil prices as complicating investment decisions, tempering optimism about a potential decade of stronger energy demand. Energy leaders weigh the investment outlook
• Negative Sentiment: A report on energy retailers, including BP, cited declining convenience-store trips and the challenges of managing retail portfolios during corporate restructuring—potential headwinds for downstream operations. How 3 energy companies are managing their c-store portfolios

BP Stock Performance

Shares of BP stock opened at $45.56 on Thursday. BP p.l.c. has a one year low of $33.22 and a one year high of $51.49. The company’s 50-day moving average is $46.16 and its 200 day moving average is $43.07. The company has a market capitalization of $119.36 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.16. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.29.

BP (NYSE:BP) last issued its earnings results on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.60. The business had revenue of $68.40 billion during the quarter, compared to analysts’ expectations of $63.14 billion. BP had a net margin of 3.74% and a return on equity of 24.67%. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Sell-side analysts expect that BP p.l.c. will post 8.30 EPS for the current fiscal year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 13th will be issued a $0.5196 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, November 13th. BP’s payout ratio is presently 60.59%.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.