Blue Granite Capital LLC Sells 150 Shares of BP p.l.c. (BP)

Blue Granite Capital LLC lowered its position in BP p.l.c. (NYSE:BP) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 47,680 shares of the oil and gas exploration company’s stock after selling 150 shares during the period. Blue Granite Capital LLC’s holdings in BP p.l.c. were worth $1,651,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Beese Fulmer Investment Management Inc. boosted its stake in BP p.l.c. by 3.0% in the second quarter. Beese Fulmer Investment Management Inc. now owns 12,223 shares of the oil and gas exploration company’s stock worth $424,000 after buying an additional 355 shares during the period. Trust Co. of Vermont boosted its stake in BP p.l.c. by 2.5% in the second quarter. Trust Co. of Vermont now owns 6,863 shares of the oil and gas exploration company’s stock worth $238,000 after buying an additional 165 shares during the period. Kempner Capital Management Inc. boosted its stake in BP p.l.c. by 4.8% in the second quarter. Kempner Capital Management Inc. now owns 148,384 shares of the oil and gas exploration company’s stock worth $5,142,000 after buying an additional 6,748 shares during the period. Cornerstone Investment Partners LLC boosted its stake in BP p.l.c. by 0.5% in the second quarter. Cornerstone Investment Partners LLC now owns 30,491 shares of the oil and gas exploration company’s stock worth $1,057,000 after buying an additional 148 shares during the period. Finally, First Command Bank boosted its stake in BP p.l.c. by 65.0% in the second quarter. First Command Bank now owns 7,510 shares of the oil and gas exploration company’s stock worth $259,000 after buying an additional 2,958 shares during the period. 9.99% of the stock is currently owned by institutional investors.

BP p.l.c. (NYSE:BP) traded down 0.09% during trading on Monday, hitting $34.92. 3,289,113 shares of the stock traded hands. The stock has a market cap of $114.45 billion, a P/E ratio of 51.96 and a beta of 0.94. The firm’s 50-day moving average is $35.80 and its 200 day moving average is $35.41. BP p.l.c. has a 52 week low of $32.50 and a 52 week high of $38.68.

BP p.l.c. (NYSE:BP) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The firm had revenue of $55.86 billion during the quarter, compared to analysts’ expectations of $59.87 billion. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. The company’s quarterly revenue was up 45.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. Equities research analysts forecast that BP p.l.c. will post $1.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, May 12th were issued a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $2.38 annualized dividend and a yield of 6.82%. BP p.l.c.’s dividend payout ratio is currently 366.16%.

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A number of research firms recently weighed in on BP. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.90 price objective on shares of BP p.l.c. in a report on Friday. Scotiabank reaffirmed a “buy” rating and issued a $37.00 price objective on shares of BP p.l.c. in a report on Friday, June 30th. Kepler Capital Markets cut shares of BP p.l.c. from a “hold” rating to a “reduce” rating in a report on Friday, June 30th. Bank of America Corporation cut shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Finally, Macquarie cut shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.10.

BP p.l.c. Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

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