Yorktown Management & Research Co Inc Reduces Position in BP plc (BP)

Yorktown Management & Research Co Inc lessened its position in shares of BP plc (NYSE:BP) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,750 shares of the oil and gas exploration company’s stock after selling 10,000 shares during the quarter. BP makes up 2.1% of Yorktown Management & Research Co Inc’s holdings, making the stock its 3rd biggest position. Yorktown Management & Research Co Inc’s holdings in BP were worth $7,180,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. One Capital Management LLC grew its position in shares of BP by 2.0% in the third quarter. One Capital Management LLC now owns 56,623 shares of the oil and gas exploration company’s stock valued at $2,610,000 after purchasing an additional 1,113 shares during the period. Formidable Asset Management LLC lifted its stake in shares of BP by 8.8% in the second quarter. Formidable Asset Management LLC now owns 14,033 shares of the oil and gas exploration company’s stock worth $641,000 after buying an additional 1,138 shares in the last quarter. Smith Asset Management Group LP lifted its stake in shares of BP by 4.5% in the third quarter. Smith Asset Management Group LP now owns 29,200 shares of the oil and gas exploration company’s stock worth $1,346,000 after buying an additional 1,250 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of BP by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 22,985 shares of the oil and gas exploration company’s stock worth $1,050,000 after buying an additional 1,277 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of BP by 29.0% in the second quarter. Parallel Advisors LLC now owns 5,866 shares of the oil and gas exploration company’s stock worth $267,000 after buying an additional 1,320 shares in the last quarter. Institutional investors own 10.94% of the company’s stock.

Several research firms have recently weighed in on BP. ValuEngine downgraded shares of BP from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Berenberg Bank began coverage on shares of BP in a research note on Tuesday, September 11th. They issued a “buy” rating on the stock. Redburn Partners raised shares of BP from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Wednesday, October 3rd. Piper Jaffray Companies reissued an “overweight” rating on shares of BP in a research note on Tuesday, October 23rd. Finally, Santander raised shares of BP from an “underperform” rating to a “hold” rating in a research note on Friday, August 31st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.22.

Shares of BP stock opened at $40.26 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83. The stock has a market cap of $135.93 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 0.64 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 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.29. BP had a net margin of 2.91% and a return on equity of 11.14%. The company had revenue of $79.47 billion for the quarter, compared to the consensus estimate of $75.31 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. BP’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, research analysts anticipate that BP plc will post 3.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Thursday, November 8th. BP’s dividend payout ratio (DPR) is presently 129.79%.

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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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