LPL Financial LLC increased its position in shares of BP plc (NYSE:BP) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 579,663 shares of the oil and gas exploration company’s stock after purchasing an additional 49,131 shares during the quarter. LPL Financial LLC’s holdings in BP were worth $24,363,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Stonehearth Capital Management LLC acquired a new position in shares of BP in the fourth quarter worth $115,000. Itau Unibanco Holding S.A. raised 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 worth $115,000 after acquiring an additional 1,502 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of BP in the fourth quarter worth $129,000. Truewealth LLC acquired a new position in shares of BP in the fourth quarter worth $138,000. Finally, Baystate Wealth Management LLC raised 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 worth $143,000 after acquiring an additional 2,948 shares during the last quarter. 10.18% of the stock is owned by hedge funds and other institutional investors.
BP stock traded down $0.16 during trading on Friday, reaching $41.76. 9,060,053 shares of the stock traded hands, compared to its average volume of 5,280,555. BP plc has a 52-week low of $33.83 and a 52-week high of $44.62. 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 company has a market cap of $138,211.81, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.82 and a beta of 0.91.
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 (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $56.85 billion. During the same period last year, the firm posted $0.13 EPS. BP’s revenue was up 33.0% on a year-over-year basis. equities analysts forecast that BP plc will post 2.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, February 16th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio (DPR) is presently 126.60%.
A number of research firms have recently weighed in on BP. Vetr cut BP from a “strong-buy” rating to a “buy” rating and set a $44.43 price target for the company. in a report on Wednesday, March 21st. Zacks Investment Research raised BP from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, March 6th. Royal Bank of Canada raised BP from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $33.10 to $40.10 in a research report on Monday, February 26th. Morgan Stanley downgraded BP from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 13th. Finally, Piper Jaffray reaffirmed a “buy” rating and issued a $51.00 price objective on shares of BP in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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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