BP p.l.c. (BP) Stake Cut by Bluestein R H & Co.
Bluestein R H & Co. cut its position in BP p.l.c. (NYSE:BP) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,344 shares of the oil and gas exploration company’s stock after selling 1,060 shares during the period. Bluestein R H & Co.’s holdings in BP p.l.c. were worth $909,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massey Quick & Co. LLC boosted its position in BP p.l.c. by 27,575.0% in the first quarter. Massey Quick & Co. LLC now owns 1,107 shares of the oil and gas exploration company’s stock worth $3,856,000 after buying an additional 1,103 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock worth $100,000 after buying an additional 1,386 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of BP p.l.c. during the first quarter worth about $106,000. Crestwood Advisors Group LLC purchased a new position in shares of BP p.l.c. during the first quarter worth about $114,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of BP p.l.c. during the fourth quarter worth about $151,000. 9.92% of the stock is owned by institutional investors.
BP p.l.c. (NYSE:BP) traded up 0.53% during trading on Friday, hitting $36.33. The stock had a trading volume of 3,357,328 shares. The stock has a market cap of $119.52 billion, a price-to-earnings ratio of 31.70 and a beta of 0.94. The stock has a 50 day moving average price of $34.98 and a 200-day moving average price of $35.02. BP p.l.c. has a 12 month low of $32.50 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 for the quarter, missing the Thomson Reuters’ 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 last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that BP p.l.c. will post $1.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be given a dividend of $0.595 per share. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a yield of 6.55%. BP p.l.c.’s dividend payout ratio is currently 206.96%.
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A number of equities analysts recently issued reports on the company. Macquarie cut BP p.l.c. from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Jefferies Group LLC set a $36.00 target price on BP p.l.c. and gave the company a “hold” rating in a research report on Wednesday, May 17th. BidaskClub raised BP p.l.c. from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, Bank of America Corporation lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.01.
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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