Alpha Cubed Investments LLC trimmed its position in shares of BP (NYSE:BP) by 20.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,492 shares of the oil and gas exploration company’s stock after selling 1,682 shares during the period. Alpha Cubed Investments LLC’s holdings in BP were worth $263,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Investment Partners LLC grew its position in BP by 101.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 59,430 shares of the oil and gas exploration company’s stock worth $2,498,000 after purchasing an additional 29,950 shares in the last quarter. Delek Group Ltd. purchased a new position in shares of BP during the 4th quarter valued at $26,992,000. First Trust Advisors LP grew its holdings in shares of BP by 106.7% during the 4th quarter. First Trust Advisors LP now owns 61,537 shares of the oil and gas exploration company’s stock valued at $2,586,000 after acquiring an additional 31,767 shares in the last quarter. Financial Advocates Investment Management purchased a new position in shares of BP during the 4th quarter valued at $743,000. Finally, BB&T Investment Services Inc. grew its holdings in shares of BP by 31.9% during the 4th quarter. BB&T Investment Services Inc. now owns 34,234 shares of the oil and gas exploration company’s stock valued at $1,452,000 after acquiring an additional 8,285 shares in the last quarter. Hedge funds and other institutional investors own 10.25% of the company’s stock.
BP has been the topic of several research analyst reports. TheStreet cut shares of BP from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Citigroup upgraded shares of BP from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Societe Generale upgraded shares of BP from a “hold” rating to a “buy” rating in a report on Monday, February 12th. ValuEngine upgraded shares of BP from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of BP from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. BP presently has a consensus rating of “Buy” and a consensus target price of $44.22.
Shares of NYSE:BP opened at $47.19 on Friday. The firm has a market capitalization of $154.86 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.05 and a beta of 0.89. 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 current ratio of 1.13 and a quick ratio of 0.81.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas exploration company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.11. The firm had revenue of $68.17 billion during the quarter, compared to analysts’ expectations of $69.40 billion. BP had a net margin of 1.71% and a return on equity of 7.22%. BP’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. equities analysts anticipate that BP will post 3.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, May 11th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Thursday, May 10th. BP’s dividend payout ratio is presently 126.60%.
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.