Parallel Advisors LLC Has $933,000 Stock Holdings in BP p.l.c. (NYSE:BP)

Parallel Advisors LLC trimmed its holdings in shares of BP p.l.c. (NYSE:BP) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,546 shares of the oil and gas exploration company’s stock after selling 973 shares during the period. Parallel Advisors LLC’s holdings in BP were worth $933,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Asset Planning Inc acquired a new position in shares of BP during the 4th quarter worth about $40,000. Bank & Trust Co boosted its stake in shares of BP by 404.8% during 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 last quarter. Versant Capital Management Inc boosted its stake 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 during the last quarter. Anchor Investment Management LLC lifted its stake in BP by 58.7% in the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the last quarter. Finally, Wellington Shields Capital Management LLC lifted its stake in BP by 26.9% in the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after purchasing an additional 1,600 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on BP. TD Securities reiterated a “hold” rating and issued a $36.00 target price (down from $40.00) on shares of BP in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler cut their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. DZ Bank downgraded shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price target on shares of BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.48.

BP Stock Up 1.1 %

NYSE BP opened at $34.61 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The company has a 50 day moving average of $32.56 and a 200-day moving average of $31.24. The company has a market cap of $92.65 billion, a price-to-earnings ratio of 432.62, a PEG ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. On average, equities research analysts expect that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be paid a $0.48 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 5.55%. BP’s payout ratio is 2,375.00%.

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.