Fluent Financial LLC Decreases Holdings in BP plc (NYSE:BP)

Fluent Financial LLC lowered its stake in shares of BP plc (NYSE:BP) by 52.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,369 shares of the oil and gas exploration company’s stock after selling 137,091 shares during the quarter. Fluent Financial LLC’s holdings in BP were worth $2,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ellis Investment Partners LLC raised its stake in shares of BP by 68.5% during the 2nd quarter. Ellis Investment Partners LLC now owns 1,230 shares of the oil and gas exploration company’s stock worth $28,000 after buying an additional 500 shares during the period. JNBA Financial Advisors raised its holdings in shares of BP by 109.1% during the second quarter. JNBA Financial Advisors now owns 1,246 shares of the oil and gas exploration company’s stock valued at $29,000 after acquiring an additional 650 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of BP by 48.1% during the second quarter. Sound Income Strategies LLC now owns 1,407 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 457 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in shares of BP in the third quarter worth approximately $38,000. Finally, Campbell Wealth Management purchased a new stake in shares of BP during the second quarter worth approximately $43,000. 8.51% of the stock is owned by institutional investors and hedge funds.

BP has been the subject of a number of recent research reports. AlphaValue cut shares of BP from a “buy” rating to a “reduce” rating in a research report on Thursday. Cowen lowered their price objective on BP from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 17th. Citigroup reissued a “neutral” rating on shares of BP in a research report on Wednesday, September 16th. TheStreet downgraded shares of BP from a “c-” rating to a “d+” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of BP in a report on Wednesday, July 15th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. BP has a consensus rating of “Hold” and an average price target of $28.99.

NYSE:BP traded down $0.19 during midday trading on Friday, hitting $16.25. 17,779,454 shares of the company were exchanged, compared to its average volume of 13,530,423. BP plc has a fifty-two week low of $15.51 and a fifty-two week high of $40.08. The company has a market capitalization of $54.87 billion, a PE ratio of -2.50 and a beta of 0.75. The company has a current ratio of 1.30, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87. The company has a fifty day simple moving average of $18.82 and a 200 day simple moving average of $22.36.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.99). The firm had revenue of $31.68 billion for the quarter, compared to analysts’ expectations of $38.70 billion. BP had a negative return on equity of 1.14% and a negative net margin of 9.45%. The company’s quarterly revenue was down 56.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. As a group, equities research analysts expect that BP plc will post -1.6 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, August 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.63%. The ex-dividend date was Thursday, August 13th. BP’s dividend payout ratio is currently 42.03%.

About BP

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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Institutional Ownership by Quarter for BP (NYSE:BP)

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