Denver Investment Advisors LLC Buys 3,577 Shares of BP plc (BP)
Denver Investment Advisors LLC increased its stake in shares of BP plc (NYSE:BP) by 56.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,903 shares of the oil and gas exploration company’s stock after buying an additional 3,577 shares during the period. Denver Investment Advisors LLC’s holdings in BP plc were worth $343,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in BP plc by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares during the period. Morgan Stanley raised its position in BP plc by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after buying an additional 623,612 shares during the period. State Street Corp raised its position in BP plc by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock valued at $1,074,889,000 after buying an additional 614,408 shares during the period. Karp Capital Management Corp bought a new position in BP plc during the first quarter valued at $17,013,000. Finally, Global Financial Private Capital LLC bought a new position in BP plc during the first quarter valued at $16,192,000. Institutional investors own 9.96% of the company’s stock.
Shares of BP plc (NYSE:BP) opened at 34.16 on Monday. The company’s 50-day moving average price is $35.06 and its 200-day moving average price is $34.93. BP plc has a 52-week low of $32.53 and a 52-week high of $38.68. The firm has a market capitalization of $112.38 billion, a P/E ratio of 29.81 and a beta of 0.94.
BP plc (NYSE:BP) last released its quarterly 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. The company had revenue of $56.51 billion during the quarter, compared to the consensus estimate of $56.09 billion. BP plc had a net margin of 0.28% and a return on equity of 0.59%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. On average, equities research analysts expect that BP plc will post $1.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be issued a $0.595 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 annualized dividend and a yield of 6.97%. BP plc’s dividend payout ratio is currently 206.96%.
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BP has been the topic of several recent research reports. Macquarie lowered BP plc from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Morgan Stanley restated a “buy” rating on shares of BP plc in a report on Monday, June 12th. Scotiabank restated a “buy” rating and set a $37.00 target price on shares of BP plc in a report on Friday, June 30th. Kepler Capital Markets lowered BP plc from a “hold” rating to a “reduce” rating in a report on Friday, June 30th. Finally, Vetr upgraded BP plc 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. Four equities 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 stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.51.
About BP plc
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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