Financial Sense Advisors Inc. bought a new position in BP plc (NYSE:BP) in the 4th quarter, Holdings Channel reports. The institutional investor bought 107,574 shares of the oil and gas exploration company’s stock, valued at approximately $4,521,000. BP comprises 2.1% of Financial Sense Advisors Inc.’s investment portfolio, making the stock its 13th largest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in BP by 22.2% in the 3rd quarter. Sterling Capital Management LLC now owns 17,434 shares of the oil and gas exploration company’s stock worth $670,000 after acquiring an additional 3,164 shares during the period. Cornerstone Investment Partners LLC grew its stake in BP by 101.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 59,430 shares of the oil and gas exploration company’s stock worth $2,498,000 after acquiring an additional 29,950 shares during the period. Wedge Capital Management L L P NC grew its stake in BP by 3.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 369,940 shares of the oil and gas exploration company’s stock worth $14,217,000 after acquiring an additional 13,323 shares during the period. Zions Bancorporation grew its stake in BP by 607.3% in the 3rd quarter. Zions Bancorporation now owns 31,056 shares of the oil and gas exploration company’s stock worth $1,193,000 after acquiring an additional 26,665 shares during the period. Finally, Assetmark Inc. grew its stake in BP by 6.7% in the 3rd quarter. Assetmark Inc. now owns 93,251 shares of the oil and gas exploration company’s stock worth $3,584,000 after acquiring an additional 5,839 shares during the period. 10.05% of the stock is owned by hedge funds and other institutional investors.
BP plc (NYSE BP) opened at $39.62 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a market cap of $132,470.00, a price-to-earnings ratio of 38.47, a P/E/G ratio of 0.77 and a beta of 0.92. BP plc has a 1-year low of $33.10 and a 1-year high of $44.62.
BP (NYSE:BP) last posted its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The business had revenue of $67.82 billion for the quarter, compared to analyst estimates of $56.85 billion. BP had a net margin of 1.39% and a return on equity of 6.19%. The business’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. research analysts forecast that BP plc will post 2.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 6.06%. BP’s payout ratio is 231.07%.
Several research firms have commented on BP. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $51.00 target price on shares of BP in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of BP from a “hold” rating to a “strong-buy” rating and set a $50.00 target price for the company in a research note on Monday, January 29th. TheStreet raised shares of BP from a “c” rating to a “b” rating in a research note on Wednesday, November 8th. Evercore ISI lifted their target price on shares of BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. Finally, Scotiabank reiterated a “buy” rating and issued a $39.00 price target on shares of BP in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.31.
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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.
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