Kornitzer Capital Management Inc. KS Boosts Holdings in BP p.l.c. (NYSE:BP)

Kornitzer Capital Management Inc. KS increased its position in shares of BP p.l.c. (NYSE:BP) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 454,980 shares of the oil and gas exploration company’s stock after buying an additional 23,325 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BP were worth $14,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Blueprint LLC raised its holdings in BP by 2.6% in the second quarter. Strategic Blueprint LLC now owns 13,200 shares of the oil and gas exploration company’s stock valued at $477,000 after acquiring an additional 330 shares in the last quarter. GAMMA Investing LLC grew its stake in BP by 12.4% in the second quarter. GAMMA Investing LLC now owns 3,097 shares of the oil and gas exploration company’s stock worth $112,000 after purchasing an additional 342 shares in the last quarter. ST Germain D J Co. Inc. grew its position in shares of BP by 9.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock worth $143,000 after acquiring an additional 377 shares in the last quarter. SouthState Corp lifted its stake in BP by 0.3% during the second quarter. SouthState Corp now owns 128,246 shares of the oil and gas exploration company’s stock worth $4,630,000 after purchasing an additional 393 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in BP by 5.4% during the second quarter. Kingswood Wealth Advisors LLC now owns 8,001 shares of the oil and gas exploration company’s stock valued at $289,000 after purchasing an additional 408 shares during the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Price Performance

Shares of BP traded up $0.04 during mid-day trading on Thursday, hitting $30.20. The company’s stock had a trading volume of 1,583,339 shares, compared to its average volume of 8,427,030. BP p.l.c. has a fifty-two week low of $29.00 and a fifty-two week high of $40.40. The stock has a market capitalization of $81.92 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.97 and a beta of 0.65. The firm has a 50-day moving average price of $31.72 and a 200 day moving average price of $34.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The company had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 EPS. On average, research analysts predict that BP p.l.c. will post 3.71 EPS for the current fiscal year.

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Friday, November 8th. BP’s payout ratio is presently 200.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a report on Friday, October 11th. Royal Bank of Canada downgraded shares of BP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 7th. UBS Group upgraded shares of BP to a “strong-buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price target on BP from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, HSBC cut BP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Eleven investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.