Kingswood Wealth Advisors LLC Sells 59,797 Shares of BP p.l.c. $BP

Kingswood Wealth Advisors LLC decreased its position in shares of BP p.l.c. (NYSE:BP) by 86.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,183 shares of the oil and gas exploration company’s stock after selling 59,797 shares during the period. Kingswood Wealth Advisors LLC’s holdings in BP were worth $275,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of BP by 2,250.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 900 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in shares of BP by 400.0% during the 1st quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 800 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of BP by 178.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company’s stock worth $35,000 after purchasing an additional 662 shares in the last quarter. ORG Partners LLC grew its holdings in shares of BP by 743.3% during the 2nd quarter. ORG Partners LLC now owns 1,754 shares of the oil and gas exploration company’s stock worth $53,000 after purchasing an additional 1,546 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of BP during the 1st quarter worth $81,000. Institutional investors own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BP has been the topic of several analyst reports. BNP Paribas raised BP from a “neutral” rating to an “outperform” rating in a report on Monday, September 15th. Wells Fargo & Company raised their price objective on BP from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BP in a research note on Wednesday. TD Cowen raised their price objective on BP from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Finally, Melius assumed coverage on BP in a research note on Wednesday, August 20th. They issued a “buy” rating and a $66.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.14.

BP Stock Performance

Shares of BP stock opened at $33.52 on Friday. The business’s 50-day moving average price is $34.40 and its 200-day moving average price is $31.58. BP p.l.c. has a 12 month low of $25.22 and a 12 month high of $35.88. The firm has a market capitalization of $88.27 billion, a price-to-earnings ratio of 159.61, a PEG ratio of 1.98 and a beta of 0.54. The company has a current ratio of 1.21, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.22. BP had a return on equity of 9.08% and a net margin of 0.29%.The firm had revenue of $46.63 billion for the quarter, compared to analyst estimates of $42.88 billion. During the same period last year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that BP p.l.c. will post 3.53 EPS for the current year.

BP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 15th were paid a dividend of $0.4942 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from BP’s previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.9%. BP’s payout ratio is 942.86%.

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.