Boston Financial Mangement LLC reduced its position in BP p.l.c. (NYSE:BP) by 24.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,275 shares of the oil and gas exploration company’s stock after selling 3,607 shares during the period. Boston Financial Mangement LLC’s holdings in BP p.l.c. were worth $391,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in BP p.l.c. during the fourth quarter valued at $15,632,000. UBS Asset Management Americas Inc. acquired a new stake in BP p.l.c. during the fourth quarter valued at $151,000. Teachers Advisors LLC increased its stake in 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 valued at $24,693,000 after buying an additional 30,512 shares during the period. Beacon Financial Group increased its stake in 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 valued at $281,000 after buying an additional 198 shares during the period. Finally, Park National Corp OH increased its stake in 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 valued at $1,970,000 after buying an additional 7,671 shares during the period. Institutional investors own 9.96% of the company’s stock.
Shares of BP p.l.c. (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. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $38.68. 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. (NYSE:BP) last posted 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 net margin of 1.74% and a return on equity of 3.64%. 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 earned $0.23 EPS. BP p.l.c.’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts anticipate that BP p.l.c. will post $1.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be paid a dividend of $0.595 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.97%. BP p.l.c.’s payout ratio is 206.96%.
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BP has been the subject of several research analyst reports. TheStreet upgraded BP p.l.c. from a “c” rating to a “b-” rating in a research report on Tuesday, May 30th. Morgan Stanley reiterated a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Scotiabank restated a “buy” rating and issued a $37.00 price objective on shares of BP p.l.c. in a report on Friday, June 30th. Argus lifted their price objective on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, Jefferies Group LLC set a $36.00 price objective on BP p.l.c. and gave the company a “hold” rating in a report on Wednesday, May 17th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. BP p.l.c. presently has an average rating of “Hold” and an average price target 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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