First Financial Corp IN lowered its holdings in shares of BP p.l.c. (NYSE:BP – Get Rating) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 46,201 shares of the oil and gas exploration company’s stock after selling 1,000 shares during the period. BP accounts for approximately 0.9% of First Financial Corp IN’s holdings, making the stock its 18th largest position. First Financial Corp IN’s holdings in BP were worth $1,310,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atlas Brown Inc. grew its stake in shares of BP by 0.9% during the second quarter. Atlas Brown Inc. now owns 47,301 shares of the oil and gas exploration company’s stock worth $1,341,000 after buying an additional 440 shares during the last quarter. Butensky & Cohen Financial Security Inc. lifted its holdings in BP by 0.5% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 98,656 shares of the oil and gas exploration company’s stock valued at $2,797,000 after buying an additional 450 shares during the period. Boenning & Scattergood Inc. lifted its holdings in BP by 1.9% in the second quarter. Boenning & Scattergood Inc. now owns 20,854 shares of the oil and gas exploration company’s stock valued at $591,000 after buying an additional 387 shares during the period. ACG Wealth acquired a new position in BP in the second quarter valued at $85,000. Finally, Silicon Valley Capital Partners acquired a new position in BP in the second quarter valued at $312,000. Institutional investors own 9.22% of the company’s stock.
Wall Street Analyst Weigh In
BP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BP from GBX 450 ($5.44) to GBX 472 ($5.70) in a report on Wednesday, July 6th. StockNews.com upgraded shares of BP from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 11th. Morgan Stanley upped their target price on shares of BP from GBX 540 ($6.52) to GBX 566 ($6.84) in a report on Wednesday, August 17th. Wells Fargo & Company reduced their price objective on shares of BP from $31.00 to $29.00 and set an “underweight” rating for the company in a research report on Wednesday, August 3rd. Finally, TheStreet downgraded shares of BP from a “b” rating to a “c” rating in a research report on Monday, June 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, BP currently has an average rating of “Moderate Buy” and an average target price of $206.16.
BP Trading Down 8.8 %
BP (NYSE:BP – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The oil and gas exploration company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.99. BP had a negative net margin of 5.38% and a positive return on equity of 26.00%. The company had revenue of $67.87 billion during the quarter, compared to analysts’ expectations of $60.85 billion. During the same period last year, the company posted $0.83 EPS. BP’s revenue was up 86.1% on a year-over-year basis. Equities research analysts predict that BP p.l.c. will post 8.39 earnings per share for the current fiscal year.
BP Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 12th will be issued a $0.3604 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This is a boost from BP’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 5.13%. BP’s payout ratio is -40.57%.
BP Company Profile
BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.
- Get a free copy of the StockNews.com research report on BP (BP)
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