Cullen Investment Group LTD. Invests $201,000 in BP p.l.c. (NYSE:BP)

Cullen Investment Group LTD. bought a new stake in BP p.l.c. (NYSE:BP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,665 shares of the oil and gas exploration company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. increased its stake in BP by 4.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 120,779 shares of the oil and gas exploration company’s stock valued at $4,276,000 after acquiring an additional 4,615 shares during the period. Harbor Investment Advisory LLC grew its stake in BP by 200.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 1,060 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in BP by 35.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 18,264 shares of the oil and gas exploration company’s stock worth $647,000 after buying an additional 4,779 shares during the last quarter. Highlander Capital Management LLC grew its stake in BP by 27.6% during the fourth quarter. Highlander Capital Management LLC now owns 4,622 shares of the oil and gas exploration company’s stock worth $164,000 after buying an additional 1,000 shares during the last quarter. Finally, Nilsine Partners LLC grew its stake in BP by 108.3% during the fourth quarter. Nilsine Partners LLC now owns 20,357 shares of the oil and gas exploration company’s stock worth $721,000 after buying an additional 10,584 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Trading Down 1.1 %

BP opened at $38.63 on Wednesday. The firm’s fifty day moving average is $37.05 and its two-hundred day moving average is $36.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.21. The firm has a market cap of $108.78 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 2.00 and a beta of 0.68. BP p.l.c. has a twelve month low of $33.52 and a twelve month high of $40.84.

BP (NYSE:BP) last posted its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.11. The company had revenue of $52.14 billion for the quarter, compared to analyst estimates of $53.14 billion. BP had a net margin of 7.15% and a return on equity of 16.00%. The business’s revenue for the quarter was down 24.7% compared to the same quarter last year. During the same period last year, the business posted $1.59 earnings per share. Equities research analysts anticipate that BP p.l.c. will post 4.93 EPS for the current year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 16th were given a dividend of $0.4362 per share. This represents a $1.74 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, February 15th. BP’s dividend payout ratio is 33.79%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BP shares. TD Securities upped their target price on shares of BP from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Scotiabank upped their target price on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler upped their target price on shares of BP from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and upped their target price for the stock from $38.60 to $42.30 in a research report on Monday, March 4th. Finally, Raymond James increased their price objective on shares of BP from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.22.

BP 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.