5 Best Stocks To Buy For Beginners Right Now

4. BP p.l.c. (NYSE:BP)

Share Price as of April 7: $29.86

Number of Hedge Fund Holders: 26

Headquartered in London, the United Kingdom, BP p.l.c. (NYSE:BP) is an energy company that operates via Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. Deutsche Bank analyst James Hubbard on March 23 maintained a Buy rating on BP p.l.c. (NYSE:BP) but lowered the firm’s price target on the shares to 450 GBp from 455 GBp.

On March 25, BP p.l.c. (NYSE:BP) announced its plans to spend £1 billion to expand its electric vehicle charging stations in the United Kingdom over the next 10 years. This initiative will meet the increasing demand for clean power, create multiple jobs in the UK economy, and help the country’s transition to low carbon vehicles for both individuals and commercial purposes. 

In 2021, BP p.l.c. (NYSE:BP)’s full-year revenue came in at $156.7 billion, compared to $105.6 billion in the previous year. The $7.5 billion net income in 2021 strongly rebounded from the net loss of $20.3 billion in 2020. 

BP p.l.c. (NYSE:BP) declared a $0.3276 per share quarterly dividend on February 10, in line with previous. The dividend was paid on March 25, to shareholders of the company as of February 18. BP p.l.c. (NYSE:BP)’s dividend yield on April 7 stood at 4.30%. 

According to the fourth quarter database of Insider Monkey, 26 hedge funds were long BP p.l.c. (NYSE:BP), compared to 29 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the biggest position holder in the company, with 13.7 million shares worth more than $367 million.