BP p.l.c. (BP) Holdings Lowered by Choate Investment Advisors

Choate Investment Advisors lowered its position in shares of BP p.l.c. (NYSE:BP) by 18.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,628 shares of the oil and gas exploration company’s stock after selling 3,638 shares during the quarter. Choate Investment Advisors’ holdings in BP p.l.c. were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Morgan Stanley increased its stake in shares of BP p.l.c. by 11.2% during the 1st quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after purchasing an additional 623,612 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of BP p.l.c. by 3.8% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 63,117 shares of the oil and gas exploration company’s stock worth $2,179,000 after purchasing an additional 2,304 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of BP p.l.c. during the 2nd quarter worth approximately $10,896,000. Geneva Advisors LLC increased its stake in shares of BP p.l.c. by 6.2% during the 2nd quarter. Geneva Advisors LLC now owns 17,011 shares of the oil and gas exploration company’s stock worth $589,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of BP p.l.c. by 45.0% during the 1st quarter. Sunbelt Securities Inc. now owns 8,760 shares of the oil and gas exploration company’s stock worth $302,000 after purchasing an additional 2,718 shares during the last quarter. 10.10% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on BP shares. Argus raised their price target on shares of BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, June 1st. TheStreet upgraded shares of BP p.l.c. from a “c” rating to a “b-” rating in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Morgan Stanley reiterated a “buy” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $36.26.

BP p.l.c. (NYSE:BP) traded up 0.69% during mid-day trading on Friday, reaching $36.58. 4,846,402 shares of the company’s stock traded hands. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $38.68. The stock has a 50-day moving average price of $35.21 and a 200-day moving average price of $35.00. The stock has a market capitalization of $120.02 billion, a PE ratio of 31.92 and a beta of 0.93.

BP p.l.c. (NYSE:BP) last released its earnings results 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 firm had revenue of $56.51 billion during the quarter, compared to the consensus estimate of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. BP p.l.c.’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities research analysts expect that BP p.l.c. will post $1.65 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be issued a $0.595 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 annualized dividend and a dividend yield of 6.51%. BP p.l.c.’s dividend payout ratio (DPR) is presently 206.96%.

ILLEGAL ACTIVITY NOTICE: “BP p.l.c. (BP) Holdings Lowered by Choate Investment Advisors” was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://transcriptdaily.com/2017/09/17/bp-p-l-c-bp-holdings-lowered-by-choate-investment-advisors.html.

BP p.l.c. 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.

Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

Receive News & Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply