GWM Advisors LLC boosted its stake in shares of BP plc (NYSE:BP) by 11.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,232 shares of the oil and gas exploration company’s stock after buying an additional 2,649 shares during the period. GWM Advisors LLC’s holdings in BP were worth $1,103,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. TD Asset Management Inc. lifted its position in shares of BP by 3.9% in the fourth quarter. TD Asset Management Inc. now owns 21,647 shares of the oil and gas exploration company’s stock worth $923,000 after buying an additional 803 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of BP in the fourth quarter valued at about $43,000. Pinnacle Associates Ltd. raised its holdings in shares of BP by 25.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 31,833 shares of the oil and gas exploration company’s stock valued at $1,207,000 after buying an additional 6,419 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of BP by 8.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 83,599 shares of the oil and gas exploration company’s stock valued at $3,170,000 after buying an additional 6,629 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in BP by 124.3% during the fourth quarter. Cerity Partners LLC now owns 155,888 shares of the oil and gas exploration company’s stock worth $5,911,000 after purchasing an additional 86,396 shares in the last quarter. Hedge funds and other institutional investors own 11.04% of the company’s stock.
BP has been the subject of several recent analyst reports. Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target for the company. in a report on Tuesday, April 16th. Deutsche Bank reissued a “buy” rating on shares of BP in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.41.
Shares of BP stock opened at $40.91 on Friday. The firm has a market cap of $136.55 billion, a P/E ratio of 10.76, a PEG ratio of 1.70 and a beta of 0.79. BP plc has a 1 year low of $36.28 and a 1 year high of $47.25. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $66.32 billion during the quarter, compared to analysts’ expectations of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. BP’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, research analysts predict that BP plc will post 3.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be issued a dividend of $0.615 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.46 annualized dividend and a yield of 6.01%. BP’s dividend payout ratio is presently 64.21%.
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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).
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