Wealth Alliance Advisory Group LLC boosted its position in BP plc (NYSE:BP) by 137.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,806 shares of the oil and gas exploration company’s stock after acquiring an additional 10,300 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in BP were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of BP during the first quarter worth about $76,000. Summit Global Investments purchased a new stake in shares of BP during the first quarter worth about $631,000. Fifth Third Bancorp boosted its holdings in shares of BP by 6.8% during the first quarter. Fifth Third Bancorp now owns 115,494 shares of the oil and gas exploration company’s stock worth $5,049,000 after purchasing an additional 7,367 shares during the period. Family Management Corp boosted its holdings in shares of BP by 9.2% during the first quarter. Family Management Corp now owns 31,734 shares of the oil and gas exploration company’s stock worth $1,387,000 after purchasing an additional 2,664 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of BP by 4.2% during the first quarter. AdvisorNet Financial Inc now owns 22,645 shares of the oil and gas exploration company’s stock worth $990,000 after purchasing an additional 903 shares during the period. 11.04% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on BP shares. Royal Bank of Canada lowered shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price for the company. in a report on Tuesday, April 16th. Deutsche Bank reiterated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $55.41.
Shares of BP stock traded down $0.31 during trading on Friday, reaching $40.91. 4,560,294 shares of the stock were exchanged, compared to its average volume of 4,408,710. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.61. The firm has a market cap of $136.77 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.69 and a beta of 0.79. BP plc has a 1 year low of $36.28 and a 1 year high of $47.25.
BP (NYSE:BP) last posted its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. BP had a net margin of 3.26% and a return on equity of 12.19%. The company had revenue of $66.32 billion during the quarter, compared to analyst estimates of $64.85 billion. During the same period in the prior year, the business posted $0.13 earnings per share. BP’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts forecast that BP plc will post 3.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Thursday, May 9th. BP’s payout ratio is currently 64.21%.
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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).
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