Altfest L J & Co. Inc. boosted its position in shares of BP p.l.c. (NYSE:BP) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,919 shares of the oil and gas exploration company’s stock after buying an additional 10 shares during the period. Altfest L J & Co. Inc.’s holdings in BP p.l.c. were worth $344,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in BP. Norges Bank acquired a new position in BP p.l.c. during the fourth quarter valued at approximately $15,632,000. Brookfield Asset Management Inc. increased its position in BP p.l.c. by 0.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 391,406 shares of the oil and gas exploration company’s stock valued at $14,631,000 after buying an additional 2,520 shares during the period. Orbis Allan Gray Ltd increased its position in BP p.l.c. by 68.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 827,125 shares of the oil and gas exploration company’s stock valued at $30,918,000 after buying an additional 337,242 shares during the period. UBS Asset Management Americas Inc. acquired a new position in BP p.l.c. during the fourth quarter valued at approximately $151,000. Finally, HighPoint Advisor Group LLC increased its position in BP p.l.c. by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,404 shares of the oil and gas exploration company’s stock valued at $2,102,000 after buying an additional 5,086 shares during the period. 9.96% of the stock is currently owned by institutional investors and hedge funds.
BP p.l.c. (NYSE:BP) traded up 0.18% on Friday, hitting $34.16. The stock had a trading volume of 4,741,106 shares. The company has a 50-day moving average of $35.06 and a 200 day moving average of $34.93. BP p.l.c. has a 12 month low of $32.53 and a 12 month high of $38.68. The company has a market cap of $112.38 billion, a PE ratio of 29.81 and a beta of 0.94.
BP p.l.c. (NYSE:BP) last issued its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $56.51 billion during the quarter, compared to analyst estimates of $56.09 billion. During the same quarter in the previous year, the business posted $0.23 EPS. BP p.l.c.’s revenue was up 21.7% compared to the same quarter last year. On average, analysts predict that BP p.l.c. will post $1.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 11th will be issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date is Wednesday, August 9th. BP p.l.c.’s payout ratio is currently 206.96%.
Several brokerages recently commented on BP. Scotiabank set a $37.00 price target on shares of BP p.l.c. and gave the company a “buy” rating in a report on Tuesday, August 1st. BidaskClub cut shares of BP p.l.c. from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Vetr upgraded shares of BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 target price on the stock in a report on Monday, May 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of BP p.l.c. in a report on Monday, June 12th. Finally, Kepler Capital Markets cut shares of BP p.l.c. from a “hold” rating to a “reduce” rating in a report on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. BP p.l.c. currently has a consensus 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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