Cambridge Investment Research Advisors Inc. increased its stake in shares of BP p.l.c. (NYSE:BP) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 339,585 shares of the oil and gas exploration company’s stock after buying an additional 25,138 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in BP p.l.c. were worth $13,050,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC boosted its holdings in BP p.l.c. by 21.4% in the 1st 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 in the last quarter. Cypress Wealth Advisors LLC boosted its holdings in BP p.l.c. by 13.8% in the 1st quarter. Cypress Wealth Advisors LLC now owns 6,991 shares of the oil and gas exploration company’s stock valued at $241,000 after purchasing an additional 848 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in BP p.l.c. in the 1st quarter valued at approximately $229,000. First Financial Equity Corporation purchased a new stake in BP p.l.c. in the 1st quarter valued at approximately $1,365,000. Finally, Point72 Asset Management L.P. purchased a new stake in BP p.l.c. in the 1st quarter valued at approximately $6,904,000. 9.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BP p.l.c. (BP) traded down $0.44 during trading on Wednesday, hitting $39.17. The company had a trading volume of 3,007,692 shares, compared to its average volume of 5,529,433. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market cap of $129,370.00, a P/E ratio of 29.11, a P/E/G ratio of 1.19 and a beta of 0.98. BP p.l.c. has a 1 year low of $33.10 and a 1 year high of $41.55.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, November 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from BP p.l.c.’s previous quarterly dividend of $0.60. This represents a $2.40 annualized dividend and a yield of 6.13%. BP p.l.c.’s payout ratio is 203.42%.
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A number of brokerages have weighed in on BP. Zacks Investment Research raised BP p.l.c. from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, November 7th. TheStreet raised BP p.l.c. from a “c” rating to a “b” rating in a report on Wednesday, November 8th. Evercore ISI lifted their price objective on BP p.l.c. from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Scotiabank reissued a “buy” rating and set a $39.00 price target on shares of BP p.l.c. in a research note on Wednesday, November 1st. Finally, Vetr lowered BP p.l.c. from a “buy” rating to a “hold” rating and set a $40.67 price target on the stock. in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $38.67.
BP p.l.c. 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.
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