Meyer Handelman Co. Sells 30,492 Shares of BP plc (BP)

Meyer Handelman Co. reduced its holdings in shares of BP plc (NYSE:BP) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 363,500 shares of the oil and gas exploration company’s stock after selling 30,492 shares during the period. Meyer Handelman Co.’s holdings in BP were worth $16,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BP. FMR LLC increased its stake in BP by 88.5% during the 2nd quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock worth $735,292,000 after buying an additional 7,562,842 shares during the period. Fisher Asset Management LLC increased its position in shares of BP by 790.3% in the 3rd quarter. Fisher Asset Management LLC now owns 7,352,990 shares of the oil and gas exploration company’s stock valued at $338,973,000 after purchasing an additional 6,527,101 shares during the last quarter. Millennium Management LLC increased its position 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 purchasing an additional 2,322,118 shares during the last quarter. Renaissance Technologies LLC increased its position 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 purchasing an additional 1,714,700 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of BP in the 2nd quarter valued at approximately $64,175,000. 10.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BP stock opened at $41.27 on Friday. 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. The firm has a market capitalization of $141.88 billion, a PE ratio of 21.95, a P/E/G ratio of 0.67 and a beta of 0.85.

BP (NYSE:BP) last issued its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.29. BP had a net margin of 2.91% and a return on equity of 11.14%. The business had revenue of $79.47 billion during the quarter, compared to analysts’ expectations of $75.31 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. As a group, research analysts expect that BP plc will post 3.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 9th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Thursday, November 8th. BP’s payout ratio is 129.79%.

A number of equities research analysts have commented on BP shares. Goldman Sachs Group raised shares of BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 5th. HSBC raised shares of BP to a “buy” rating in a research report on Monday, July 30th. Finally, Santander raised shares of BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Four research 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 company. BP presently has an average rating of “Buy” and an average price target of $54.22.

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BP 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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Institutional Ownership by Quarter for BP (NYSE:BP)

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