BBR Partners LLC Sells 8,671 Shares of BP p.l.c. (NYSE:BP)

BBR Partners LLC trimmed its position in shares of BP p.l.c. (NYSE:BP) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,376 shares of the oil and gas exploration company’s stock after selling 8,671 shares during the quarter. BBR Partners LLC’s holdings in BP were worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of BP during the 1st quarter worth about $31,000. First United Bank & Trust bought a new stake in BP in the fourth quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BP during the second quarter valued at approximately $33,000. Quent Capital LLC purchased a new stake in shares of BP in the second quarter worth approximately $38,000. Finally, Guardian Wealth Management Inc. lifted its stake in shares of BP by 576.0% during the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 962 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Stock Performance

Shares of BP stock opened at $32.35 on Friday. BP p.l.c. has a one year low of $32.31 and a one year high of $40.84. The company has a market capitalization of $89.60 billion, a PE ratio of 10.14, a P/E/G ratio of 2.05 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24. The company has a 50-day simple moving average of $34.59 and a two-hundred day simple moving average of $36.27.

BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. The company had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.83%. BP’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. Research analysts expect that BP p.l.c. will post 4.09 EPS for the current fiscal year.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 9th will be paid a $0.48 dividend. The ex-dividend date is Friday, August 9th. This is a boost from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 5.94%. BP’s dividend payout ratio (DPR) is 59.56%.

Analyst Ratings Changes

BP has been the topic of a number of recent analyst reports. Wolfe Research started coverage on BP in a research note on Thursday, July 18th. They issued an “outperform” rating and a $57.00 target price on the stock. Evercore ISI upgraded shares of BP to a “strong-buy” rating in a report on Wednesday, July 31st. Erste Group Bank restated a “hold” rating on shares of BP in a research note on Friday, June 14th. Hsbc Global Res raised shares of BP to a “hold” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on BP from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.23.

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.