Advisors Asset Management Inc. decreased its stake in shares of BP plc (NYSE:BP) by 5.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 227,572 shares of the oil and gas exploration company’s stock after selling 12,552 shares during the period. Advisors Asset Management Inc.’s holdings in BP were worth $10,391,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of BP. FMR LLC raised its holdings in shares of BP by 88.5% in the 2nd quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock valued at $735,292,000 after acquiring an additional 7,562,842 shares in the last quarter. Millennium Management LLC raised its holdings in shares of BP by 377.1% in the 2nd quarter. Millennium Management LLC now owns 2,937,845 shares of the oil and gas exploration company’s stock valued at $134,142,000 after acquiring an additional 2,322,118 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of BP by 23.4% in the 2nd quarter. Renaissance Technologies LLC now owns 9,057,544 shares of the oil and gas exploration company’s stock valued at $413,567,000 after acquiring an additional 1,714,700 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of BP during the 2nd quarter valued at about $64,175,000. Finally, BlackRock Inc. increased its position in shares of BP by 27.5% during the 2nd quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after purchasing an additional 1,191,854 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of BP stock opened at $43.86 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. The stock has a market cap of $153.32 billion, a PE ratio of 23.29, a PEG ratio of 3.39 and a beta of 0.90. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. BP had a return on equity of 9.28% and a net margin of 2.55%. The firm had revenue of $75.44 billion for the quarter, compared to analyst estimates of $82.25 billion. During the same period in the prior year, the company earned $0.21 EPS. The company’s revenue was up 33.5% on a year-over-year basis. Research analysts forecast that BP plc will post 3.4 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 21st were given a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, September 21st. This represents a $2.46 annualized dividend and a yield of 5.61%. BP’s payout ratio is 129.79%.
Several brokerages have recently commented on BP. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Wednesday, October 3rd. Berenberg Bank began coverage on BP in a research report on Tuesday, September 11th. They set a “buy” rating on the stock. Morgan Stanley upgraded BP from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 5th. Santander upgraded BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Finally, Goldman Sachs Group upgraded BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.84.
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).
Read More: Market Capitalization and Individual Investors
Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.