Hexagon Capital Partners LLC Increases Position in BP p.l.c. (NYSE:BP)

Hexagon Capital Partners LLC boosted its stake in shares of BP p.l.c. (NYSE:BP) by 45.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,332 shares of the oil and gas exploration company’s stock after acquiring an additional 3,249 shares during the period. Hexagon Capital Partners LLC’s holdings in BP were worth $366,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of BP in the third quarter worth $200,000. Lindbrook Capital LLC increased its position in shares of BP by 5.1% in the third quarter. Lindbrook Capital LLC now owns 23,581 shares of the oil and gas exploration company’s stock worth $913,000 after acquiring an additional 1,153 shares in the last quarter. TIAA Trust National Association acquired a new stake in shares of BP in the third quarter worth $1,122,000. Altrius Capital Management Inc grew its holdings in BP by 0.4% during the 3rd quarter. Altrius Capital Management Inc now owns 184,220 shares of the oil and gas exploration company’s stock valued at $7,133,000 after purchasing an additional 695 shares in the last quarter. Finally, Confluence Wealth Services Inc. grew its holdings in BP by 5.6% during the 3rd quarter. Confluence Wealth Services Inc. now owns 10,962 shares of the oil and gas exploration company’s stock valued at $424,000 after purchasing an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BP. Raymond James raised their price target on shares of BP from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.60 to $42.30 in a report on Monday, March 4th. Scotiabank raised their price objective on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. TD Securities upped their price target on BP from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.72.

BP Stock Performance

Shares of BP traded down $0.50 during trading hours on Wednesday, reaching $38.27. 1,869,562 shares of the company’s stock traded hands, compared to its average volume of 9,473,935. The firm has a market capitalization of $107.78 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 2.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. BP p.l.c. has a twelve month low of $33.52 and a twelve month high of $40.84. The business’s fifty day simple moving average is $37.67 and its two-hundred day simple moving average is $36.51.

BP (NYSE:BP) last released its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. The firm had revenue of $52.14 billion for the quarter, compared to analyst estimates of $53.14 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. BP’s revenue was down 24.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. Analysts predict that BP p.l.c. will post 5.02 earnings per share for the current year.

BP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, February 16th were issued a dividend of $0.4362 per share. This represents a $1.74 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Thursday, February 15th. BP’s payout ratio is currently 33.79%.

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.