Adirondack Trust Co. Reduces Stake in BP p.l.c. (NYSE:BP)

Adirondack Trust Co. decreased its position in BP p.l.c. (NYSE:BP) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,648 shares of the oil and gas exploration company’s stock after selling 512 shares during the quarter. Adirondack Trust Co.’s holdings in BP were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank & Trust Co boosted its holdings in shares of BP by 404.8% in the fourth 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 last quarter. 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 valued at $66,000 after acquiring an additional 646 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of BP in the 2nd quarter worth $75,000. ORG Partners LLC grew its holdings in BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after purchasing an additional 621 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in BP in the third quarter worth about $91,000. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Stock Down 1.2 %

Shares of BP stock opened at $31.14 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. The stock has a market cap of $84.03 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.23 and a beta of 0.64. The firm’s 50-day moving average is $29.82 and its two-hundred day moving average is $31.68. BP p.l.c. has a 1 year low of $27.82 and a 1 year high of $40.40.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.05. The company had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. BP’s revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. As a group, research analysts expect that BP p.l.c. will post 3.35 earnings per share for the current fiscal year.

BP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.17%. BP’s dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

BP has been the subject of a number of recent research reports. StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Scotiabank lowered shares of BP from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $42.00 to $36.00 in a report on Thursday, October 10th. Raymond James boosted their price target on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company decreased their price objective on BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.76.

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.