Bridges Investment Management Inc. Has $229,000 Stock Position in BP p.l.c. (NYSE:BP)

Bridges Investment Management Inc. decreased its holdings in shares of BP p.l.c. (NYSE:BP) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,738 shares of the oil and gas exploration company’s stock after selling 710 shares during the quarter. Bridges Investment Management Inc.’s holdings in BP were worth $229,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Asset Planning Inc acquired a new position in shares of BP during the 4th quarter worth $40,000. Bank & Trust Co boosted its holdings 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 period. Versant Capital Management Inc boosted its holdings 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 period. Anchor Investment Management LLC boosted its holdings in shares of BP by 58.7% during the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock worth $98,000 after buying an additional 1,154 shares during the period. Finally, Independence Bank of Kentucky boosted its holdings in shares of BP by 1,867.9% during the 4th quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company’s stock worth $236,000 after buying an additional 7,565 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BP shares. Wolfe Research set a $50.00 price objective on shares of BP in a report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a report on Thursday, February 20th. 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 analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.76.

BP Price Performance

NYSE:BP opened at $31.82 on Tuesday. The company has a 50-day moving average of $31.88 and a 200-day moving average of $31.34. The company has a market capitalization of $85.19 billion, a price-to-earnings ratio of 397.80, a PEG ratio of 1.12 and a beta of 0.64. BP p.l.c. has a 52 week low of $27.82 and a 52 week high of $40.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25.

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

BP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 21st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Friday, February 21st. BP’s dividend payout ratio (DPR) is currently 2,375.00%.

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.