IPG Investment Advisors LLC cut its position in shares of BP p.l.c. (NYSE:BP) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,150 shares of the oil and gas exploration company’s stock after selling 200 shares during the period. IPG Investment Advisors LLC’s holdings in BP p.l.c. were worth $213,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BP. Norges Bank purchased a new position in shares of BP p.l.c. during the fourth quarter valued at approximately $15,632,000. UBS Asset Management Americas Inc. purchased a new position in BP p.l.c. during the fourth quarter worth about $151,000. Teachers Advisors LLC boosted its position 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 worth $24,693,000 after buying an additional 30,512 shares during the last quarter. Beacon Financial Group boosted its position 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 worth $281,000 after buying an additional 198 shares during the last quarter. Finally, Park National Corp OH boosted its position 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 worth $1,970,000 after buying an additional 7,671 shares during the last quarter. Institutional investors and hedge funds own 9.96% of the company’s stock.
BP p.l.c. (BP) traded up 0.18% during trading on Friday, hitting $34.16. 4,741,106 shares of the stock traded hands. The stock 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 firm’s 50-day moving average is $35.06 and its 200-day moving average is $34.93.
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 business had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. BP p.l.c.’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts forecast that BP p.l.c. will post $1.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be issued a dividend of $0.595 per share. The ex-dividend date 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 is presently 206.96%.
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Several research firms recently commented on BP. Scotiabank set a $37.00 price objective on shares of BP p.l.c. and gave the stock a “buy” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of BP p.l.c. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Vetr raised shares of BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 target price for the company in a report on Monday, May 8th. J P Morgan Chase & Co reaffirmed 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 research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. BP p.l.c. has a consensus rating of “Hold” and an average 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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