SouthState Corp Has $2.89 Million Stake in BP p.l.c. (NYSE:BP)

SouthState Corp trimmed its holdings in shares of BP p.l.c. (NYSE:BP) by 23.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,734 shares of the oil and gas exploration company’s stock after selling 30,573 shares during the period. SouthState Corp’s holdings in BP were worth $2,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BP. Asset Planning Inc acquired a new stake in shares of BP in the 4th quarter valued at $40,000. Bank & Trust Co increased its stake in shares of BP by 404.8% in the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc increased its stake in shares of BP by 41.0% in the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after buying an additional 646 shares during the period. Anchor Investment Management LLC increased its stake in shares of BP by 58.7% in the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after buying an additional 1,154 shares during the period. Finally, Wellington Shields Capital Management LLC increased its stake in shares of BP by 26.9% in the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after buying an additional 1,600 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BP shares. Raymond James lifted their target price on BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. raised BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler reduced their price target on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. StockNews.com lowered BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research set a $50.00 price target on BP in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.26.

BP Stock Performance

BP stock opened at $33.42 on Monday. The firm has a market cap of $89.48 billion, a PE ratio of 417.85, a P/E/G ratio of 1.12 and a beta of 0.58. The business’s 50-day moving average price is $32.39 and its two-hundred day moving average price is $31.22. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, research analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a $0.48 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.74%. BP’s dividend payout ratio (DPR) is 2,375.00%.

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.