Bank of New York Mellon Corp increased its stake in BP plc (NYSE:BP) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 742,651 shares of the oil and gas exploration company’s stock after purchasing an additional 22,580 shares during the quarter. Bank of New York Mellon Corp’s holdings in BP were worth $31,215,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in BP by 17.3% during the 4th quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock worth $270,881,000 after buying an additional 950,489 shares during the period. Russell Investments Group Ltd. raised its holdings in BP by 15.7% during the 4th quarter. Russell Investments Group Ltd. now owns 4,727,733 shares of the oil and gas exploration company’s stock worth $197,908,000 after buying an additional 641,751 shares during the period. Jennison Associates LLC raised its holdings in BP by 187.1% during the 4th quarter. Jennison Associates LLC now owns 809,211 shares of the oil and gas exploration company’s stock worth $34,011,000 after buying an additional 527,384 shares during the period. Rockefeller Financial Services Inc. raised its holdings in BP by 21.9% during the 4th quarter. Rockefeller Financial Services Inc. now owns 2,652,046 shares of the oil and gas exploration company’s stock worth $111,466,000 after buying an additional 477,072 shares during the period. Finally, James Investment Research Inc. raised its holdings in BP by 424.7% during the 4th quarter. James Investment Research Inc. now owns 287,348 shares of the oil and gas exploration company’s stock worth $12,077,000 after buying an additional 232,588 shares during the period. 10.18% of the stock is owned by institutional investors and hedge funds.
BP stock traded down $0.16 during trading hours on Friday, reaching $41.76. 9,060,031 shares of the company were exchanged, compared to its average volume of 5,280,555. The stock has a market capitalization of $138,741.36, a P/E ratio of 22.21, a PEG ratio of 0.82 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. BP plc has a 12 month low of $33.83 and a 12 month high of $44.62.
BP (NYSE:BP) last announced its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). BP had a return on equity of 6.19% and a net margin of 1.39%. The company had revenue of $67.82 billion for the quarter, compared to the consensus estimate of $56.85 billion. During the same period in the previous year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. sell-side analysts anticipate that BP plc will post 2.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, February 16th were given a $0.60 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 5.75%. BP’s dividend payout ratio is 126.60%.
Several analysts have issued reports on BP shares. Vetr downgraded BP from a “buy” rating to a “hold” rating and set a $41.28 price objective on the stock. in a report on Tuesday, December 12th. Zacks Investment Research downgraded BP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. Piper Jaffray reiterated a “buy” rating and issued a $51.00 target price on shares of BP in a report on Wednesday, January 24th. Societe Generale upgraded BP from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Finally, Morgan Stanley downgraded BP from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.26.
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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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