Hoese & Co LLP Buys New Stake in BP p.l.c. $BP

Hoese & Co LLP bought a new stake in shares of BP p.l.c. (NYSE:BP) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 18,928 shares of the oil and gas exploration company’s stock, valued at approximately $832,000. BP makes up 0.5% of Hoese & Co LLP’s portfolio, making the stock its 21st largest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC grew its stake in shares of 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 increased its holdings in shares of BP by 4.5% during the third quarter. Wedmont Private Capital now owns 7,478 shares of the oil and gas exploration company’s stock valued at $347,000 after purchasing an additional 320 shares during the period. Venture Visionary Partners LLC raised its stake in shares of BP by 1.3% during the third quarter. Venture Visionary Partners LLC now owns 26,991 shares of the oil and gas exploration company’s stock valued at $1,187,000 after purchasing an additional 349 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of BP by 4.5% during the third quarter. Versant Capital Management Inc now owns 8,310 shares of the oil and gas exploration company’s stock valued at $366,000 after purchasing an additional 357 shares in the last quarter. Finally, Atlas Brown Inc. lifted its holdings in BP by 1.0% in the second quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company’s stock worth $1,364,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Stock Up 0.9%

Shares of BP stock opened at $49.82 on Thursday. BP p.l.c. has a 1 year low of $33.22 and a 1 year high of $50.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. The business’s fifty day moving average is $45.03 and its 200-day moving average is $43.66. The stock has a market cap of $130.52 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 0.46 and a beta of 0.20.

BP (NYSE:BP) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.35. The business had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. BP had a return on equity of 16.63% and a net margin of 2.49%. The company’s revenue was up 106.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities analysts expect that BP p.l.c. will post 7.88 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 18th. Investors of record on Friday, August 14th were issued a dividend of $0.5196 per share. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from BP’s previous quarterly dividend of $0.4992. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. BP’s dividend payout ratio is presently 100.49%.

Wall Street Analyst Weigh In

BP has been the subject of a number of recent analyst reports. UBS Group lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Zacks Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. Wells Fargo & Company upgraded shares of BP from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $48.00 to $57.00 in a research report on Wednesday, September 30th. Barclays reaffirmed an “overweight” rating on shares of BP in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded shares of BP from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: Zacks named BP a Rank #1 (Strong Buy) growth stock for October 21, providing a favorable short-term sentiment signal and potentially supporting investor demand. Best Growth Stocks to Buy for October 21st
• Positive Sentiment: BP and TechnipFMC signed a memorandum of understanding covering 20,000-psi subsea production systems for BP’s Paleogene projects in the Gulf of America. The agreement supports BP’s higher-pressure offshore development pipeline, although it is not yet a binding equipment contract. TechnipFMC and bp Sign MoU for Supply of 20K Subsea Production Systems
• Neutral Sentiment: Heavy online searches for BP indicate elevated investor interest but do not by themselves represent a change in earnings outlook or valuation. Investors Heavily Search BP p.l.c.
• Neutral Sentiment: A separate report on BP Marsh & Partners (AIM: BPM) concerns a different company and should not be interpreted as news about BP p.l.c. BP Marsh & Partners Earnings Report
• Negative Sentiment: BP’s retreat from the UK North Sea highlights declining production and a reported 78% tax rate, reinforcing concerns about the region’s economics and near-term production growth. The divestitures may improve capital allocation over time but reduce BP’s exposure to existing UK output. As BP Leaves the North Sea, These Independents Are Buying In
• Negative Sentiment: New reports that Gulf marine life has not fully recovered from the Deepwater Horizon spill renew environmental, litigation and reputational risks for BP, although the articles do not announce a new financial charge. Marine Life Recovery After Deepwater Horizon

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.