Smith Chas P & Associates PA Cpas lowered its stake in shares of BP plc (NYSE:BP) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,931 shares of the oil and gas exploration company’s stock after selling 1,336 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in BP plc were worth $344,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. 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 last quarter. 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 last quarter. 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 last quarter. Russell Investments Group Ltd. raised its position in BP plc by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 4,169,463 shares of the oil and gas exploration company’s stock valued at $143,927,000 after buying an additional 309,046 shares during the last quarter. Finally, Sound Shore Management Inc. CT raised its position in BP plc by 8.1% in the first quarter. Sound Shore Management Inc. CT now owns 4,069,591 shares of the oil and gas exploration company’s stock valued at $140,482,000 after buying an additional 303,382 shares during the last quarter. Hedge funds and other institutional investors own 9.96% of the company’s stock.

BP plc (BP) opened at 34.13 on Monday. The stock has a 50 day moving average price of $35.06 and a 200-day moving average price of $34.93. BP plc has a 1-year low of $32.53 and a 1-year high of $38.68. The stock has a market cap of $111.98 billion, a PE ratio of 29.78 and a beta of 0.94.

BP plc (NYSE:BP) last posted its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.18. The business had revenue of $56.51 billion during the quarter, compared to the consensus estimate of $56.09 billion. BP plc had a return on equity of 0.59% and a net margin of 0.28%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, equities analysts expect that BP plc will post $1.69 EPS for the current year.

The firm also recently announced 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. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date is Wednesday, August 9th. BP plc’s payout ratio is 206.96%.

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BP has been the topic of several recent research reports. BidaskClub lowered BP plc from a “sell” rating to a “strong sell” rating in a research report on Thursday. Zacks Investment Research upgraded BP plc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley restated a “buy” rating on shares of BP plc in a research report on Monday, June 12th. Societe Generale lowered BP plc from a “buy” rating to a “hold” rating and reduced their price target for the stock from $35.04 to $34.90 in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC set a $36.00 price target on BP plc and gave the stock a “hold” rating in a research report on Wednesday, May 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for BP plc (NYSE:BP)

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