Whittier Trust Co. Lowers Stock Holdings in BP p.l.c. (NYSE:BP)

Whittier Trust Co. cut its holdings in shares of BP p.l.c. (NYSE:BP) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,898 shares of the oil and gas exploration company’s stock after selling 339 shares during the quarter. Whittier Trust Co.’s holdings in BP were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. boosted its holdings in shares of BP by 9.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock valued at $143,000 after purchasing an additional 377 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in BP by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 646,102 shares of the oil and gas exploration company’s stock valued at $20,281,000 after acquiring an additional 16,534 shares during the last quarter. Fiduciary Alliance LLC grew its position in BP by 11.3% during the third quarter. Fiduciary Alliance LLC now owns 18,683 shares of the oil and gas exploration company’s stock valued at $586,000 after acquiring an additional 1,900 shares during the period. ORG Partners LLC raised its holdings in shares of 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 purchasing an additional 621 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in shares of BP by 15.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 54,252 shares of the oil and gas exploration company’s stock valued at $1,703,000 after purchasing an additional 7,444 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BP. Royal Bank of Canada lowered shares of BP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 7th. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. BNP Paribas downgraded BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Wolfe Research began coverage on BP in a research note on Thursday, July 18th. They set an “outperform” rating and a $57.00 price objective on the stock. Finally, Argus upgraded BP to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.98.

BP Stock Down 0.9 %

BP stock opened at $31.31 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $32.51 and a 200-day simple moving average of $35.10. The company has a market capitalization of $86.73 billion, a P/E ratio of 9.82, a PEG ratio of 4.25 and a beta of 0.64. BP p.l.c. has a twelve month low of $30.52 and a twelve month high of $40.40.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The company had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period last year, the business earned $0.89 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts predict that BP p.l.c. will post 3.76 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a $0.48 dividend. This is a positive change from BP’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 6.13%. BP’s dividend payout ratio (DPR) is presently 59.56%.

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.