Kovitz Investment Group Partners LLC lessened its stake in shares of BP plc (NYSE:BP) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,442 shares of the oil and gas exploration company’s stock after selling 3,123 shares during the period. Kovitz Investment Group Partners LLC’s holdings in BP were worth $1,826,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in BP by 0.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after acquiring an additional 61,668 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of BP by 17.3% in the 4th quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock valued at $270,881,000 after purchasing an additional 950,489 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of BP by 0.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 6,386,885 shares of the oil and gas exploration company’s stock valued at $268,441,000 after purchasing an additional 32,693 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of BP by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock valued at $243,822,000 after purchasing an additional 3,155,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of BP by 15.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,727,733 shares of the oil and gas exploration company’s stock valued at $197,908,000 after purchasing an additional 641,751 shares in the last quarter. Hedge funds and other institutional investors own 10.18% of the company’s stock.
BP has been the topic of a number of research analyst reports. Citigroup raised BP from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Zacks Investment Research downgraded BP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. Vetr downgraded BP from a “buy” rating to a “hold” rating and set a $41.28 target price on the stock. in a report on Tuesday, December 12th. Piper Jaffray reaffirmed a “buy” rating and issued a $51.00 target price on shares of BP in a report on Wednesday, January 24th. Finally, Royal Bank of Canada raised BP from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $33.10 to $40.10 in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. BP has a consensus rating of “Hold” and an average target price of $40.26.
NYSE BP opened at $41.76 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.16. BP plc has a twelve month low of $33.83 and a twelve month high of $44.62. The firm has a market cap of $135,795.75, a P/E ratio of 22.21, a PEG ratio of 0.83 and a beta of 0.91.
BP (NYSE:BP) last released its quarterly earnings data 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). BP had a net margin of 1.39% and a return on equity of 6.19%. The firm had revenue of $67.82 billion for the quarter, compared to analyst estimates of $56.85 billion. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 33.0% compared to the same quarter last year. analysts forecast that BP plc will post 2.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, February 16th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Thursday, February 15th. BP’s payout ratio is presently 126.60%.
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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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