Prime Capital Investment Advisors LLC Sells 846 Shares of BP p.l.c. (NYSE:BP)

Prime Capital Investment Advisors LLC cut its stake in BP p.l.c. (NYSE:BP) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,568 shares of the oil and gas exploration company’s stock after selling 846 shares during the period. Prime Capital Investment Advisors LLC’s holdings in BP were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. LRI Investments LLC acquired a new position in BP during the 1st quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BP in the second quarter valued at approximately $33,000. Quent Capital LLC bought a new position in BP in the second quarter valued at approximately $38,000. Independence Bank of Kentucky raised its position in shares of BP by 85.7% during the 2nd quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its position in shares of BP by 29.1% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock worth $73,000 after purchasing an additional 459 shares during the last quarter. 11.01% of the stock is owned by institutional investors.

BP Price Performance

Shares of BP opened at $28.98 on Friday. The company has a 50 day moving average of $31.14 and a 200-day moving average of $34.01. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $78.61 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.94 and a beta of 0.65. BP p.l.c. has a twelve month low of $27.82 and a twelve month high of $40.40.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analysts’ expectations of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 EPS. As a group, equities research analysts forecast that BP p.l.c. will post 3.68 EPS for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 8th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Friday, November 8th. BP’s dividend payout ratio (DPR) is 200.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Argus raised shares of BP to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI raised shares of BP to a “strong-buy” rating in a research note on Wednesday, July 31st. Hsbc Global Res raised shares of BP to a “hold” rating in a research report on Thursday, August 8th. Finally, BNP Paribas cut shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, BP presently has a consensus rating of “Moderate Buy” and an average price target of $42.73.

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.