Zions Bancorporation cut its position in shares of BP p.l.c. (NYSE:BP) by 23.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,338 shares of the oil and gas exploration company’s stock after selling 1,316 shares during the period. Zions Bancorporation’s holdings in BP p.l.c. were worth $151,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in BP p.l.c. by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares in the last quarter. Morgan Stanley increased its stake in shares of BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after buying an additional 623,612 shares during the last quarter. State Street Corp increased its stake in shares of BP p.l.c. by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock worth $1,074,889,000 after buying an additional 614,408 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of BP p.l.c. during the first quarter worth about $17,013,000. Finally, Global Financial Private Capital LLC acquired a new stake in shares of BP p.l.c. during the first quarter worth about $16,192,000. Institutional investors own 9.95% of the company’s stock.
BP p.l.c. (NYSE:BP) traded down 1.49% during mid-day trading on Friday, reaching $34.94. The company’s stock had a trading volume of 5,004,052 shares. The company has a market capitalization of $114.94 billion, a PE ratio of 30.49 and a beta of 0.94. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $38.68. The firm has a 50 day moving average price of $35.15 and a 200-day moving average price of $35.01.
BP p.l.c. (NYSE:BP) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.18. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The firm had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. During the same period in the prior year, the company posted $0.23 EPS. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that BP p.l.c. will post $1.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Wednesday, August 9th. BP p.l.c.’s payout ratio is 206.96%.
Several equities analysts have weighed in on the company. Scotiabank set a $37.00 target price on BP p.l.c. and gave the company a “buy” rating in a research report on Tuesday, August 1st. BidaskClub cut BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Vetr upgraded BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 price objective for the company in a research note on Monday, May 8th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Finally, Kepler Capital Markets cut BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. BP p.l.c. has a consensus rating of “Hold” and a consensus target price of $36.51.
About BP p.l.c.
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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