Stock Traders Purchase Large Volume of BP Call Options (NYSE:BP)

BP p.l.c. (NYSE:BP) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 50,116 call options on the stock. This represents an increase of approximately 73% compared to the typical daily volume of 28,903 call options.

BP Stock Performance

BP traded up $1.61 during midday trading on Wednesday, hitting $41.55. 14,958,211 shares of the company were exchanged, compared to its average volume of 10,781,721. The company’s 50 day simple moving average is $37.26 and its 200 day simple moving average is $35.77. The firm has a market capitalization of $108.95 billion, a price-to-earnings ratio of -4,150.95, a price-to-earnings-growth ratio of 1.87 and a beta of 0.31. BP has a 1-year low of $25.22 and a 1-year high of $41.59. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $10.00 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $9.43. The firm had revenue of $47.38 billion for the quarter, compared to the consensus estimate of $42.19 billion. BP had a return on equity of 9.68% and a net margin of 0.03%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, sell-side analysts predict that BP will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 20th will be paid a $0.4992 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, February 20th. BP’s payout ratio is currently -19,800.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new position in shares of BP in the third quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC acquired a new position in BP in the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in BP in the 2nd quarter valued at $27,000. YANKCOM Partnership grew its holdings in shares of BP by 1,068.3% during the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 876 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in shares of BP in the third quarter valued at about $43,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on BP shares. BNP Paribas Exane downgraded shares of BP from an “outperform” rating to a “hold” rating and set a $38.50 target price on the stock. in a research report on Thursday, February 12th. Wolfe Research reiterated an “outperform” rating and set a $51.00 price objective on shares of BP in a research note on Thursday, December 18th. Evercore set a $38.00 target price on BP and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Freedom Capital cut BP from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Finally, Piper Sandler increased their price objective on BP from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.35.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.