CCM Investment Advisers LLC lessened its holdings in shares of BP plc (NYSE:BP) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 127,172 shares of the oil and gas exploration company’s stock after selling 5,090 shares during the quarter. CCM Investment Advisers LLC’s holdings in BP were worth $5,345,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Stonehearth Capital Management LLC acquired a new stake in shares of BP in the fourth quarter valued at $115,000. Itau Unibanco Holding S.A. lifted its holdings in shares of BP by 121.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,740 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 1,502 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of BP in the fourth quarter valued at $129,000. Truewealth LLC acquired a new stake in shares of BP in the fourth quarter valued at $138,000. Finally, Baystate Wealth Management LLC lifted its holdings in shares of BP by 832.8% in the fourth quarter. Baystate Wealth Management LLC now owns 3,302 shares of the oil and gas exploration company’s stock valued at $143,000 after buying an additional 2,948 shares during the period. Institutional investors own 10.17% of the company’s stock.
Several brokerages have recently weighed in on BP. Vetr lowered BP from a “strong-buy” rating to a “buy” rating and set a $44.43 price objective for the company. in a report on Wednesday. Zacks Investment Research upgraded BP from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Monday, March 12th. ValuEngine upgraded BP from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Royal Bank of Canada raised BP from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $33.10 to $40.10 in a report on Monday, February 26th. Finally, TheStreet downgraded BP from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $40.26.
Shares of BP stock opened at $40.13 on Thursday. BP plc has a fifty-two week low of $33.57 and a fifty-two week high of $44.62. The company has a market capitalization of $129,209.52, a price-to-earnings ratio of 20.77, a PEG ratio of 0.76 and a beta of 0.98. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55.
BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the 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 firm’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. sell-side analysts anticipate that BP plc will post 2.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 16th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.98%. The ex-dividend date is Thursday, February 15th. BP’s payout ratio is 233.34%.
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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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