Davis Rea LTD. Takes $213,000 Position in BP plc (BP)

Davis Rea LTD. bought a new position in shares of BP plc (NYSE:BP) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,875 shares of the oil and gas exploration company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also modified their holdings of BP. Eukles Asset Management acquired a new position in BP during the fourth quarter worth approximately $26,000. Perkins Coie Trust Co increased its position in BP by 66.7% during the first quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 252 shares during the period. JNBA Financial Advisors acquired a new position in BP during the fourth quarter worth approximately $29,000. Pinnacle Bank acquired a new position in BP during the fourth quarter worth approximately $39,000. Finally, Dubuque Bank & Trust Co. increased its position in BP by 35.8% during the first quarter. Dubuque Bank & Trust Co. now owns 910 shares of the oil and gas exploration company’s stock worth $39,000 after buying an additional 240 shares during the period. 10.80% of the stock is currently owned by institutional investors and hedge funds.

BP has been the topic of several research analyst reports. Wells Fargo & Co initiated coverage on BP in a research report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 price target on the stock. Zacks Investment Research raised BP from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of BP in a research report on Thursday, March 7th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.75.

Shares of NYSE:BP traded down $0.17 during trading on Thursday, reaching $44.87. The company had a trading volume of 4,535,016 shares, compared to its average volume of 5,462,758. The firm has a market cap of $149.94 billion, a P/E ratio of 11.81, a PEG ratio of 1.98 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. BP plc has a fifty-two week low of $36.28 and a fifty-two week high of $47.83.

BP (NYSE:BP) last released its earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.27. The business had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. BP had a return on equity of 12.45% and a net margin of 3.09%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. Research analysts forecast that BP plc will post 3.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, February 15th were issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date was Thursday, February 14th. BP’s payout ratio is currently 64.21%.

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BP Company 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).

Further Reading: What is a good rate of return for a mutual fund?

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Institutional Ownership by Quarter for BP (NYSE:BP)

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