BP p.l.c. (BP) To Go Ex-Dividend on November 14th

BP p.l.c. (NYSE:BP) announced a quarterly dividend on Tuesday, November 4th. Investors of record on Friday, November 14th will be paid a dividend of 0.4992 per share by the oil and gas exploration company on Friday, December 19th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 14th. This is a 1.0% increase from BP’s previous quarterly dividend of $0.49.

BP has decreased its dividend by an average of 0.1%annually over the last three years. BP has a payout ratio of 66.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BP to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.97 annual dividend with an expected future payout ratio of 48.0%.

BP Trading Down 1.3%

Shares of NYSE BP traded down $0.50 during midday trading on Wednesday, reaching $36.85. The stock had a trading volume of 2,731,868 shares, compared to its average volume of 9,887,307. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.21. The company’s 50 day moving average price is $34.55 and its 200 day moving average price is $32.47. BP has a twelve month low of $25.22 and a twelve month high of $37.64. The firm has a market cap of $96.92 billion, a price-to-earnings ratio of 175.55, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50.

BP (NYSE:BP) last announced its earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.13. BP had a return on equity of 9.08% and a net margin of 0.29%.The firm had revenue of $48.42 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that BP will post 3.53 EPS for the current year.

Hedge Funds Weigh In On BP

Hedge funds have recently modified their holdings of the business. Heartwood Wealth Advisors LLC purchased a new position in BP during the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of BP in the second quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC increased its position in shares of BP by 2,250.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 900 shares during the last quarter. Acima Private Wealth LLC bought a new stake in shares of BP in the second quarter worth $32,000. Finally, GW&K Investment Management LLC raised its stake in BP by 178.0% during the first quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company’s stock valued at $35,000 after buying an additional 662 shares in the last quarter. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

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.