Gabelli Funds LLC reduced its position in shares of BP plc (NYSE:BP) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,000 shares of the oil and gas exploration company’s stock after selling 41,700 shares during the period. Gabelli Funds LLC’s holdings in BP were worth $35,238,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Legacy Inc. acquired a new position in shares of BP during the fourth quarter worth $161,000. Horan Capital Advisors LLC. acquired a new position in shares of BP during the first quarter worth $35,000. Massachusetts Financial Services Co. MA lifted its position in shares of BP by 51.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,595,212 shares of the oil and gas exploration company’s stock worth $98,411,000 after purchasing an additional 881,094 shares in the last quarter. Cooper Financial Group acquired a new position in shares of BP during the fourth quarter worth $252,000. Finally, Heritage Trust Co lifted its position in shares of BP by 62.0% during the fourth quarter. Heritage Trust Co now owns 1,458 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 558 shares in the last quarter. 10.86% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on BP shares. Deutsche Bank reissued a “buy” rating on shares of BP in a research report on Thursday, March 7th. Zacks Investment Research raised shares of BP from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Royal Bank of Canada cut shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research report on Tuesday, April 16th. 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 stock. The company currently has a consensus rating of “Buy” and a consensus price target of $55.41.
BP opened at $42.28 on Thursday. The firm has a market capitalization of $141.14 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02. BP plc has a 12-month low of $36.28 and a 12-month high of $47.83.
BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $66.32 billion for the quarter, compared to analysts’ expectations of $64.85 billion. BP had a net margin of 3.26% and a return on equity of 12.19%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. As a group, equities research analysts anticipate that BP plc will post 3.42 EPS 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 issued a $0.615 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.46 annualized dividend and a yield of 5.82%. 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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