Credit Suisse AG reduced its position in BP p.l.c. (NYSE:BP) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,512 shares of the oil and gas exploration company’s stock after selling 7,589 shares during the period. Credit Suisse AG’s holdings in BP p.l.c. were worth $4,471,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BP. Morgan Stanley raised its position in BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after buying an additional 623,612 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in BP p.l.c. by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,404 shares of the oil and gas exploration company’s stock valued at $2,102,000 after buying an additional 5,086 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in BP p.l.c. by 68.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 827,125 shares of the oil and gas exploration company’s stock valued at $30,918,000 after buying an additional 337,242 shares in the last quarter. Heritage Investors Management Corp raised its stake in BP p.l.c. by 0.9% in the first quarter. Heritage Investors Management Corp now owns 22,965 shares of the oil and gas exploration company’s stock valued at $793,000 after buying an additional 200 shares in the last quarter. Finally, Beacon Financial Group raised its stake in BP p.l.c. by 2.5% in the first quarter. Beacon Financial Group now owns 8,154 shares of the oil and gas exploration company’s stock valued at $281,000 after buying an additional 198 shares in the last quarter. 9.95% of the stock is owned by hedge funds and other institutional investors.
BP p.l.c. (NYSE BP) opened at 34.94 on Friday. The stock has a 50 day moving average price of $35.15 and a 200 day moving average price of $35.01. The stock has a market cap of $114.94 billion, a P/E ratio of 30.49 and a beta of 0.94. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $38.68.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.18. The business had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts forecast that BP p.l.c. will post $1.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 11th will be issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend is Wednesday, August 9th. BP p.l.c.’s payout ratio is 206.96%.
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Several equities research analysts recently issued reports on the company. Scotiabank set a $37.00 price objective on BP p.l.c. and gave the company a “buy” rating in a research note on Tuesday, August 1st. BidaskClub lowered BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Vetr raised BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 price objective for the company in a research note on Monday, May 8th. J P Morgan Chase & Co reissued an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Finally, Kepler Capital Markets lowered BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.51.
BP p.l.c. Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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