Wedge Capital Management L L P NC Has $19.53 Million Stock Position in BP p.l.c. (NYSE:BP)

Wedge Capital Management L L P NC grew its stake in BP p.l.c. (NYSE:BP) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 660,538 shares of the oil and gas exploration company’s stock after purchasing an additional 14,436 shares during the period. Wedge Capital Management L L P NC’s holdings in BP were worth $19,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of BP during the third quarter worth about $5,089,000. SG Americas Securities LLC grew its holdings in BP by 860.7% during the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock worth $2,086,000 after acquiring an additional 59,546 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of BP during the third quarter valued at $857,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of BP by 5.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after purchasing an additional 23,325 shares during the period. Finally, Altrius Capital Management Inc grew its stake in shares of BP by 9.9% in the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after purchasing an additional 20,976 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Stock Down 0.3 %

BP stock opened at $31.70 on Friday. The stock’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $31.87. The company has a market cap of $84.70 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. BP p.l.c. has a fifty-two week low of $27.82 and a fifty-two week high of $40.40.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The business had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. During the same quarter in the previous year, the business posted $1.15 EPS. BP’s quarterly revenue was down 11.3% on a year-over-year basis. On average, research analysts expect that BP p.l.c. will post 3.45 earnings per share for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 8th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date was Friday, November 8th. BP’s payout ratio is currently 200.00%.

Wall Street Analyst Weigh In

BP has been the topic of a number of analyst reports. 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. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company dropped their price target on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $42.00 to $36.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating on shares of BP in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.76.

BP Company 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.