Bank of New York Mellon Corp reduced its holdings in shares of BP p.l.c. (NYSE:BP) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 727,879 shares of the oil and gas exploration company’s stock after selling 24,312 shares during the quarter. Bank of New York Mellon Corp’s holdings in BP p.l.c. were worth $25,220,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Massey Quick & Co. LLC raised 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 valued at $3,856,000 after purchasing an additional 1,103 shares during the last quarter. Parkside Financial Bank & Trust raised 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 valued at $100,000 after purchasing an additional 1,386 shares during the last quarter. IHT Wealth Management LLC raised its position in BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after purchasing an additional 689 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in BP p.l.c. in the fourth quarter valued at about $151,000. Finally, AlphaMark Advisors LLC raised its position in BP p.l.c. by 16.8% in the first quarter. AlphaMark Advisors LLC now owns 4,162 shares of the oil and gas exploration company’s stock valued at $144,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 10.10% of the company’s stock.

Several research firms have commented on BP. Scotiabank set a $37.00 target price on BP p.l.c. and gave the company a “buy” rating in a research report on Tuesday, August 1st. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Kepler Capital Markets downgraded BP p.l.c. from a “hold” rating to a “reduce” rating in a research report on Friday, June 30th. Finally, TheStreet downgraded BP p.l.c. from a “b-” rating to a “c” rating in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $36.26.

COPYRIGHT VIOLATION WARNING: “BP p.l.c. (BP) Position Decreased by Bank of New York Mellon Corp” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2017/09/14/bp-p-l-c-bp-position-decreased-by-bank-of-new-york-mellon-corp.html.

Shares of BP p.l.c. (NYSE:BP) opened at 35.99 on Thursday. BP p.l.c. has a 52 week low of $32.53 and a 52 week high of $38.68. The firm has a market cap of $118.09 billion, a PE ratio of 31.40 and a beta of 0.93. The firm has a 50-day moving average price of $35.09 and a 200-day moving average price of $34.96.

BP p.l.c. (NYSE:BP) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.18). The company had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. BP p.l.c.’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the firm earned $0.23 earnings per share. On average, equities research analysts predict that BP p.l.c. will post $1.65 earnings per share for the current year.

The firm 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. This represents a $2.38 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend is Wednesday, August 9th. BP p.l.c.’s payout ratio is 206.96%.

BP p.l.c. Company Profile

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.

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP p.l.c. (NYSE:BP).

Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

Receive News & Stock Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related stocks with our FREE daily email newsletter.