Short Interest in BP p.l.c. (NYSE:BP) Drops By 19.0%

BP p.l.c. (NYSE:BP) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 15,600,000 shares, a drop of 19.0% from the January 31st total of 19,270,000 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 11,170,000 shares, the days-to-cover ratio is currently 1.4 days.

BP Trading Down 0.4 %

BP stock traded down $0.14 during midday trading on Tuesday, reaching $31.67. The stock had a trading volume of 10,462,032 shares, compared to its average volume of 12,196,426. BP has a 52-week low of $27.82 and a 52-week high of $40.40. The company has a fifty day moving average of $31.88 and a 200 day moving average of $31.34. The firm has a market cap of $84.79 billion, a price-to-earnings ratio of 396.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.64. The company has a quick ratio of 0.97, a current ratio of 1.25 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. On average, analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 6.06%. BP’s dividend payout ratio (DPR) is 2,375.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BP shares. 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 target price on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. DZ Bank lowered BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, BP currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.76.

Institutional Investors Weigh In On BP

Several large investors have recently added to or reduced their stakes in BP. Asset Planning Inc purchased a new stake in shares of BP in the fourth quarter valued at approximately $40,000. Bank & Trust Co lifted its holdings 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 worth $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc grew its position in shares of BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of BP by 58.7% in the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake in BP by 26.9% in the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock worth $223,000 after acquiring an additional 1,600 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

About BP

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.