Euro Pacific Asset Management LLC Sells 489 Shares of BP p.l.c. (NYSE:BP)

Euro Pacific Asset Management LLC lowered its holdings in BP p.l.c. (NYSE:BP) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,844 shares of the oil and gas exploration company’s stock after selling 489 shares during the period. BP comprises about 2.9% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 13th largest holding. Euro Pacific Asset Management LLC’s holdings in BP were worth $13,924,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Turim 21 Investimentos Ltda. bought a new position in shares of BP in the 1st quarter valued at about $30,000. Versant Capital Management Inc bought a new position in shares of BP in the 4th quarter valued at about $35,000. KB Financial Partners LLC bought a new position in shares of BP in the 1st quarter valued at about $41,000. Harbor Investment Advisory LLC grew its position in shares of BP by 200.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 1,060 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of BP in the 4th quarter valued at about $70,000. Institutional investors own 11.01% of the company’s stock.

BP Stock Performance

BP stock traded down $0.32 during midday trading on Thursday, hitting $38.05. The company’s stock had a trading volume of 5,167,371 shares, compared to its average volume of 9,413,938. BP p.l.c. has a 1-year low of $33.52 and a 1-year high of $40.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. The company has a 50-day moving average price of $37.09 and a two-hundred day moving average price of $36.46. The company has a market cap of $107.16 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.97 and a beta of 0.68.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.11. BP had a net margin of 7.15% and a return on equity of 16.00%. The business had revenue of $52.14 billion during the quarter, compared to analysts’ expectations of $53.14 billion. During the same quarter in the previous year, the company earned $1.59 EPS. The business’s revenue was down 24.7% on a year-over-year basis. As a group, sell-side analysts predict that BP p.l.c. will post 4.89 earnings per share for the current year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a yield of 4.59%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio (DPR) is 33.79%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank lifted their price objective on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $38.60 to $42.30 in a research report on Monday, March 4th. TD Securities raised their target price on shares of BP from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Raymond James raised their target price on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, BP currently has a consensus rating of “Hold” and an average price target of $43.72.

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.