Northeast Investment Management Increases Stake in BP p.l.c. (BP)

Northeast Investment Management lifted its holdings in BP p.l.c. (NYSE:BP) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,479 shares of the oil and gas exploration company’s stock after purchasing an additional 2,943 shares during the quarter. Northeast Investment Management’s holdings in BP were worth $480,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BP. Cullen Frost Bankers Inc. increased its holdings in BP by 4.3% during the second quarter. Cullen Frost Bankers Inc. now owns 79,509 shares of the oil and gas exploration company’s stock worth $2,755,000 after buying an additional 3,310 shares during the last quarter. Advisor Partners LLC acquired a new position in BP during the second quarter worth $201,000. HL Financial Services LLC increased its holdings in BP by 5.3% during the second quarter. HL Financial Services LLC now owns 94,505 shares of the oil and gas exploration company’s stock worth $3,275,000 after buying an additional 4,796 shares during the last quarter. Seaward Management Limited Partnership increased its holdings in BP by 5.5% during the second quarter. Seaward Management Limited Partnership now owns 6,417 shares of the oil and gas exploration company’s stock worth $222,000 after buying an additional 333 shares during the last quarter. Finally, Denver Investment Advisors LLC increased its holdings in BP by 56.5% during the second quarter. Denver Investment Advisors LLC now owns 9,903 shares of the oil and gas exploration company’s stock worth $343,000 after buying an additional 3,577 shares during the last quarter. 9.97% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. TheStreet downgraded shares of BP from a “b-” rating to a “c” rating in a report on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and set a $39.00 target price on shares of BP in a report on Thursday, September 28th. Vetr upgraded shares of BP from a “hold” rating to a “buy” rating and set a $40.94 target price on the stock in a report on Thursday, November 23rd. Scotiabank restated a “buy” rating and set a $39.00 target price on shares of BP in a report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of BP from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. BP has a consensus rating of “Hold” and an average price target of $38.86.

BP p.l.c. (NYSE BP) opened at $39.91 on Tuesday. BP p.l.c. has a fifty-two week low of $33.10 and a fifty-two week high of $41.55. The company has a market cap of $131,887.30, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. 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 business also recently disclosed 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. This is an increase from BP’s previous quarterly dividend of $0.60. This represents a $2.40 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Thursday, November 9th. BP’s payout ratio is currently 203.42%.

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BP 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.

Institutional Ownership by Quarter for BP (NYSE:BP)

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