Janney Montgomery Scott LLC lifted its stake in BP plc (NYSE:BP) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,320 shares of the oil and gas exploration company’s stock after purchasing an additional 26,300 shares during the period. Janney Montgomery Scott LLC’s holdings in BP were worth $12,231,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BP. Fisher Asset Management LLC increased its holdings in BP by 1.2% during the 2nd 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 acquiring an additional 9,858 shares in the last quarter. Capital Investment Advisors LLC purchased a new position in BP during the 2nd quarter valued at about $230,000. First Citizens Bank & Trust Co. purchased a new position in BP during the 2nd quarter valued at about $347,000. Confluence Investment Management LLC purchased a new position in BP during the 2nd quarter valued at about $1,513,000. Finally, Manning & Napier Group LLC increased its holdings in BP by 10.2% during the 2nd quarter. Manning & Napier Group LLC now owns 74,694 shares of the oil and gas exploration company’s stock valued at $3,409,000 after acquiring an additional 6,905 shares in the last quarter. Hedge funds and other institutional investors own 10.93% of the company’s stock.
Several equities analysts have weighed in on the stock. ValuEngine downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Berenberg Bank assumed coverage on shares of BP in a report on Tuesday, September 11th. They set a “buy” rating for the company. Redburn Partners upgraded shares of BP from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Wednesday, October 3rd. Piper Jaffray Companies restated an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Finally, Santander upgraded shares of BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $54.22.
Shares of NYSE BP opened at $41.24 on Friday. The stock has a market cap of $143.37 billion, a PE ratio of 21.94, a PEG ratio of 0.68 and a beta of 0.85. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt-to-equity ratio of 0.53.
BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.29. The business had revenue of $79.47 billion during the quarter, compared to the consensus estimate of $75.31 billion. BP had a net margin of 2.91% and a return on equity of 11.14%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, research analysts predict that BP plc will post 3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 9th will be issued a dividend of $0.615 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.97%. BP’s dividend payout ratio (DPR) is presently 129.79%.
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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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