BP plc (BP) Holdings Trimmed by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its holdings in shares of BP plc (NYSE:BP) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,211,715 shares of the oil and gas exploration company’s stock after selling 19,902 shares during the quarter. Pzena Investment Management LLC’s holdings in BP were worth $240,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BP. Valley National Advisers Inc. boosted its holdings in shares of BP by 131.3% during the third quarter. Valley National Advisers Inc. now owns 2,202 shares of the oil and gas exploration company’s stock worth $102,000 after acquiring an additional 1,250 shares during the period. Squar Milner Financial Services LLC boosted its holdings in shares of BP by 250.4% during the third quarter. Squar Milner Financial Services LLC now owns 2,835 shares of the oil and gas exploration company’s stock worth $131,000 after acquiring an additional 2,026 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of BP by 1,375.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock worth $135,000 after acquiring an additional 2,750 shares during the period. Destination Wealth Management boosted its holdings in shares of BP by 2,782.4% during the second quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock worth $187,000 after acquiring an additional 3,951 shares during the period. Finally, Wall Street Access Asset Management LLC bought a new stake in shares of BP during the third quarter worth approximately $201,000. 11.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BP stock opened at $41.27 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.22 and a quick ratio of 0.91. The company has a market capitalization of $133.36 billion, a P/E ratio of 21.95, a P/E/G ratio of 0.63 and a beta of 0.85. BP plc has a 1 year low of $36.15 and a 1 year high of $47.83.

BP (NYSE:BP) last issued its quarterly 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 return on equity of 11.14% and a net margin of 2.91%. The business had revenue of $79.47 billion during the quarter, compared to analysts’ expectations of $75.31 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, analysts predict that BP plc will post 3.6 earnings per share for the current year.

The firm 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 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Thursday, November 8th. BP’s payout ratio is presently 129.79%.

A number of brokerages have recently issued reports on BP. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, October 3rd. Zacks Investment Research cut BP from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. HSBC upgraded BP to a “buy” rating in a research note on Monday, July 30th. Goldman Sachs Group upgraded BP from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, August 9th. Finally, ValuEngine cut BP from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. BP currently has an average rating of “Buy” and a consensus price target of $53.22.

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About BP

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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