HL Financial Services LLC grew its stake in BP plc (NYSE:BP) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,923 shares of the oil and gas exploration company’s stock after acquiring an additional 2,694 shares during the quarter. HL Financial Services LLC’s holdings in BP were worth $4,975,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in BP. Fisher Asset Management LLC lifted its holdings in shares of BP by 1.2% during the second quarter. Fisher Asset Management LLC now owns 825,889 shares of the oil and gas exploration company’s stock valued at $37,710,000 after purchasing an additional 9,858 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of BP by 5.1% during the second quarter. Fulton Bank N.A. now owns 63,871 shares of the oil and gas exploration company’s stock valued at $2,916,000 after purchasing an additional 3,123 shares in the last quarter. Capital Investment Advisors LLC bought a new position in shares of BP during the second quarter valued at $230,000. Private Asset Management Inc. lifted its holdings in shares of BP by 2.2% during the second quarter. Private Asset Management Inc. now owns 154,704 shares of the oil and gas exploration company’s stock valued at $6,272,000 after purchasing an additional 3,383 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of BP during the second quarter valued at $347,000. 10.93% of the stock is currently owned by institutional investors and hedge funds.
BP stock opened at $42.66 on Wednesday. BP plc has a fifty-two week low of $36.15 and a fifty-two week high of $47.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 1.22. The stock has a market capitalization of $138.35 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 0.66 and a beta of 0.85.
BP (NYSE:BP) last posted its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.29. BP had a return on equity of 11.14% and a net margin of 2.91%. The company had revenue of $79.47 billion for the quarter, compared to the consensus estimate of $75.31 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. BP’s revenue was up 32.4% on a year-over-year basis. On average, equities analysts predict that BP plc will post 3.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Thursday, November 8th. BP’s payout ratio is 129.79%.
A number of brokerages have recently issued reports on BP. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, October 3rd. Berenberg Bank began coverage on BP in a report on Tuesday, September 11th. They issued a “buy” rating on the stock. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 5th. Finally, Santander raised BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. BP has a consensus rating of “Buy” and an average price target of $54.22.
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BP Company Profile
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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