CCM Investment Advisers LLC grew its stake in shares of BP (NYSE:BP) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,268 shares of the oil and gas exploration company’s stock after purchasing an additional 7,096 shares during the quarter. CCM Investment Advisers LLC’s holdings in BP were worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in BP. Renaissance Technologies LLC raised its holdings in BP by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock worth $243,822,000 after purchasing an additional 3,155,200 shares in the last quarter. Deutsche Bank AG raised its holdings in BP by 91.3% during the fourth quarter. Deutsche Bank AG now owns 4,270,553 shares of the oil and gas exploration company’s stock worth $179,488,000 after purchasing an additional 2,037,709 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in BP during the fourth quarter worth approximately $71,406,000. Acadian Asset Management LLC raised its holdings in BP by 17.3% during the fourth quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock worth $270,881,000 after purchasing an additional 950,489 shares in the last quarter. Finally, Sound Shore Management Inc. CT raised its holdings in BP by 17.6% during the first quarter. Sound Shore Management Inc. CT now owns 4,524,404 shares of the oil and gas exploration company’s stock worth $183,419,000 after purchasing an additional 676,392 shares in the last quarter. 10.25% of the stock is currently owned by institutional investors.
BP opened at $47.19 on Friday, Marketbeat.com reports. BP has a 1-year low of $46.44 and a 1-year high of $46.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.13. The firm has a market capitalization of $154.86 billion, a P/E ratio of 25.10, a PEG ratio of 1.05 and a beta of 0.89.
BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, May 1st. The oil and gas exploration company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. BP had a net margin of 1.71% and a return on equity of 7.22%. The firm had revenue of $68.17 billion for the quarter, compared to analyst estimates of $69.40 billion. During the same period last year, the firm posted $0.08 EPS. BP’s quarterly revenue was up 22.0% on a year-over-year basis. analysts forecast that BP will post 3.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, May 11th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 10th. This represents a $2.40 dividend on an annualized basis and a yield of 5.09%. BP’s dividend payout ratio (DPR) is 126.60%.
BP has been the topic of a number of research analyst reports. Vetr cut shares of BP from a “strong-buy” rating to a “buy” rating and set a $44.43 price objective on the stock. in a report on Monday, March 12th. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Monday, March 12th. ValuEngine upgraded shares of BP from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Societe Generale upgraded shares of BP from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Finally, Piper Jaffray restated a “buy” rating and set a $51.00 target price on shares of BP in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BP currently has an average rating of “Buy” and an average target price of $44.22.
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).
Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP (NYSE:BP).
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.