Beck Mack & Oliver LLC increased its stake in BP p.l.c. (NYSE:BP) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,880 shares of the oil and gas exploration company’s stock after buying an additional 98 shares during the period. Beck Mack & Oliver LLC’s holdings in BP p.l.c. were worth $273,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of BP p.l.c. during the fourth quarter worth $15,632,000. UBS Asset Management Americas Inc. acquired a new position in shares of BP p.l.c. during the fourth quarter worth $151,000. Teachers Advisors LLC increased its position in shares of BP p.l.c. by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 660,593 shares of the oil and gas exploration company’s stock worth $24,693,000 after buying an additional 30,512 shares during the period. Beacon Financial Group increased its position in shares of BP p.l.c. by 2.5% in the first quarter. Beacon Financial Group now owns 8,154 shares of the oil and gas exploration company’s stock worth $281,000 after buying an additional 198 shares during the period. Finally, Park National Corp OH increased its position in shares of BP p.l.c. by 15.5% in the first quarter. Park National Corp OH now owns 57,065 shares of the oil and gas exploration company’s stock worth $1,970,000 after buying an additional 7,671 shares during the period. Institutional investors and hedge funds own 9.96% of the company’s stock.
Shares of BP p.l.c. (NYSE BP) opened at 34.16 on Friday. The firm has a market cap of $112.38 billion, a P/E ratio of 29.81 and a beta of 0.94. The company’s 50-day moving average price is $35.06 and its 200-day moving average price is $34.93. BP p.l.c. has a 12 month low of $32.53 and a 12 month high of $38.68.
BP p.l.c. (NYSE:BP) last announced its earnings results 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 company had revenue of $56.51 billion during the quarter, compared to analysts’ expectations of $56.09 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. On average, analysts predict that BP p.l.c. will post $1.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 11th will be given a $0.595 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 annualized dividend and a yield of 6.97%. BP p.l.c.’s dividend payout ratio (DPR) is presently 206.96%.
A number of brokerages have weighed in on BP. Scotiabank set a $37.00 price target on BP p.l.c. and gave the stock a “buy” rating in a research report on Tuesday, August 1st. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co reissued an “overweight” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Vetr raised BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 price target on the stock in a research report on Monday, May 8th. Finally, Kepler Capital Markets downgraded BP p.l.c. from a “hold” rating to a “reduce” rating in a research report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.51.
BP p.l.c. Company Profile
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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