Viking Fund Management LLC boosted its stake in shares of BP plc (NYSE:BP) by 169.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,500 shares of the oil and gas exploration company’s stock after purchasing an additional 82,000 shares during the period. Viking Fund Management LLC’s holdings in BP were worth $5,705,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of BP. Dubuque Bank & Trust Co. lifted its position in BP by 35.8% in the 1st quarter. Dubuque Bank & Trust Co. now owns 910 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 240 shares during the last quarter. Perkins Coie Trust Co grew its position in BP by 66.7% in the first quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 252 shares in the last quarter. Signet Financial Management LLC grew its position in BP by 0.7% in the fourth quarter. Signet Financial Management LLC now owns 35,677 shares of the oil and gas exploration company’s stock worth $1,353,000 after acquiring an additional 255 shares in the last quarter. Adirondack Trust Co. grew its position in BP by 9.8% in the fourth quarter. Adirondack Trust Co. now owns 2,903 shares of the oil and gas exploration company’s stock worth $110,000 after acquiring an additional 260 shares in the last quarter. Finally, Cahill Financial Advisors Inc. lifted its stake in shares of BP by 1.3% in the fourth quarter. Cahill Financial Advisors Inc. now owns 21,274 shares of the oil and gas exploration company’s stock worth $807,000 after buying an additional 273 shares during the last quarter. 10.80% of the stock is currently owned by institutional investors.
Shares of NYSE:BP traded up $0.16 during midday trading on Monday, hitting $44.83. 233,965 shares of the stock were exchanged, compared to its average volume of 4,675,091. The stock has a market cap of $149.27 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 1.98 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. BP plc has a 12 month low of $36.28 and a 12 month high of $47.83.
BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.27. BP had a return on equity of 12.45% and a net margin of 3.09%. The firm had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that BP plc will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, February 15th were paid a $0.615 dividend. The ex-dividend date was Thursday, February 14th. This represents a $2.46 dividend on an annualized basis and a yield of 5.49%. BP’s dividend payout ratio (DPR) is presently 64.21%.
Several equities research analysts have recently weighed in on BP shares. Deutsche Bank reaffirmed a “buy” rating on shares of BP in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of BP from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Wells Fargo & Co began coverage on shares of BP in a research report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 target price on the stock. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.75.
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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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