Wells Fargo & Company MN increased its stake in shares of BP (NYSE:BP) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,303,158 shares of the oil and gas exploration company’s stock after acquiring an additional 392,966 shares during the quarter. Wells Fargo & Company MN owned about 0.13% of BP worth $174,450,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. HL Financial Services LLC boosted its position in shares of BP by 14.6% during the first quarter. HL Financial Services LLC now owns 115,930 shares of the oil and gas exploration company’s stock worth $4,700,000 after acquiring an additional 14,805 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in BP by 15.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 391,562 shares of the oil and gas exploration company’s stock valued at $16,457,000 after purchasing an additional 51,977 shares in the last quarter. Wagner Wealth Management LLC purchased a new stake in BP during the fourth quarter valued at $156,000. CNB Bank purchased a new stake in BP during the fourth quarter valued at $461,000. Finally, Dixon Hubard Feinour & Brown Inc. VA raised its stake in BP by 30.0% during the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 8,709 shares of the oil and gas exploration company’s stock valued at $366,000 after purchasing an additional 2,009 shares in the last quarter. Hedge funds and other institutional investors own 10.25% of the company’s stock.
A number of research firms recently issued reports on BP. Zacks Investment Research raised shares of BP from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a research note on Friday, May 4th. Vetr downgraded shares of BP from a “strong-buy” rating to a “buy” rating and set a $44.43 price target on the stock. in a research note on Monday, March 12th. ValuEngine raised shares of BP from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. TheStreet downgraded shares of BP from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Finally, Scotiabank reaffirmed a “buy” rating and set a $47.00 price target on shares of BP in a research note on Monday, April 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.22.
Shares of BP opened at $47.38 on Friday. BP has a twelve month low of $33.90 and a twelve month high of $47.44. The firm has a market capitalization of $156.81 billion, a PE ratio of 21.54, a PEG ratio of 1.07 and a beta of 0.89. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52.
BP (NYSE:BP) last announced its earnings results on Tuesday, May 1st. The oil and gas exploration company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.11. BP had a net margin of 1.71% and a return on equity of 7.22%. The business had revenue of $68.17 billion for the quarter, compared to the consensus estimate of $69.40 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. equities research analysts predict that BP will post 3.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, May 11th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, May 10th. BP’s dividend payout ratio is currently 126.60%.
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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