Viking Fund Management LLC Purchases Shares of 140,000 BP PLC (BP)
Viking Fund Management LLC purchased a new stake in BP PLC (NYSE:BP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 140,000 shares of the oil and gas exploration company’s stock, valued at approximately $4,922,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BP. Washington Trust Bank raised its position in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares during the last quarter. Krilogy Financial LLC raised its position in BP PLC by 18.8% in the second quarter. Krilogy Financial LLC now owns 3,514 shares of the oil and gas exploration company’s stock valued at $125,000 after buying an additional 555 shares during the last quarter. Farmers National Bank purchased a new position in BP PLC during the second quarter valued at about $131,000. Advisory Services Network LLC raised its position in BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock valued at $136,000 after buying an additional 2,119 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 11.71% of the company’s stock.
Shares of BP PLC (NYSE:BP) traded down 1.60% during trading on Monday, hitting $33.72. 5,429,797 shares of the company were exchanged. The stock’s market capitalization is $106.29 billion. The company has a 50 day moving average of $34.84 and a 200-day moving average of $34.08. BP PLC has a 1-year low of $27.01 and a 1-year high of $37.28.
BP PLC (NYSE:BP) last issued its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. BP PLC had a positive return on equity of 2.48% and a negative net margin of 2.03%. The firm earned $48.04 billion during the quarter, compared to the consensus estimate of $50.51 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was down 16.2% on a year-over-year basis. On average, analysts forecast that BP PLC will post $1.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 11th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 annualized dividend and a dividend yield of 6.94%. BP PLC’s payout ratio is presently -195.08%.
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Several research analysts have issued reports on the stock. Deutsche Bank AG restated a “neutral” rating on shares of BP PLC in a report on Monday. Zacks Investment Research upgraded shares of BP PLC from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Vetr upgraded shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.28 price objective for the company in a research note on Wednesday, September 21st. Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research note on Sunday, September 11th. Finally, reiterated a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.48.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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