Accurate Investment Solutions Inc. cut its stake in BP plc (NYSE:BP) by 49.9% during the 4th quarter, Holdings Channel reports. The fund owned 906 shares of the oil and gas exploration company’s stock after selling 901 shares during the period. Accurate Investment Solutions Inc.’s holdings in BP were worth $34,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in BP by 27.5% in the second quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after buying an additional 1,191,854 shares during the period. FMR LLC raised its position in shares of BP by 88.5% during the second quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock worth $735,292,000 after purchasing an additional 7,562,842 shares during the period. AMP Capital Investors Ltd raised its position in shares of BP by 1,189.0% during the second quarter. AMP Capital Investors Ltd now owns 76,294 shares of the oil and gas exploration company’s stock worth $3,483,000 after purchasing an additional 70,375 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of BP during the second quarter worth approximately $415,000. Finally, Franklin Square Holdings L.P. raised its position in shares of BP by 28.1% during the second quarter. Franklin Square Holdings L.P. now owns 42,350 shares of the oil and gas exploration company’s stock worth $1,934,000 after purchasing an additional 9,300 shares during the period. Institutional investors and hedge funds own 11.10% of the company’s stock.
A number of brokerages have recently weighed in on BP. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, October 3rd. Piper Jaffray Companies reiterated an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Raymond James upgraded BP from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded BP from a “buy” rating to a “hold” rating in a report on Friday, November 16th. Finally, Wells Fargo & Co assumed coverage on BP in a report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 price target for the company. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $51.69.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.29. The firm had revenue of $79.47 billion during the quarter, compared to the consensus estimate of $75.31 billion. BP had a return on equity of 11.14% and a net margin of 2.91%. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Sell-side analysts anticipate that BP plc will post 3.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 21st. Shareholders of record on Friday, November 9th were paid a $0.615 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a yield of 6.11%. BP’s dividend payout ratio (DPR) is presently 129.79%.
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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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