Traynor Capital Management Inc. cut its stake in shares of BP p.l.c. (NYSE:BP) by 26.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,083 shares of the oil and gas exploration company’s stock after selling 5,161 shares during the period. Traynor Capital Management Inc.’s holdings in BP p.l.c. were worth $491,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Massey Quick & Co. LLC boosted its stake in BP p.l.c. by 27,575.0% in the first quarter. Massey Quick & Co. LLC now owns 1,107 shares of the oil and gas exploration company’s stock valued at $3,856,000 after buying an additional 1,103 shares during the period. Parkside Financial Bank & Trust boosted its stake in BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in BP p.l.c. during the first quarter valued at approximately $106,000. Crestwood Advisors Group LLC acquired a new stake in BP p.l.c. during the first quarter valued at approximately $114,000. Finally, IHT Wealth Management LLC boosted its stake in BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after buying an additional 689 shares during the period. Institutional investors own 9.95% of the company’s stock.
BP p.l.c. (NYSE:BP) traded down 1.2427% during trading on Friday, reaching $35.0292. The company’s stock had a trading volume of 1,171,574 shares. The stock’s 50-day moving average is $35.14 and its 200 day moving average is $35.02. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $38.68. The firm has a market capitalization of $115.24 billion, a price-to-earnings ratio of 30.5665 and a beta of 0.94. BP p.l.c. also was the target of some unusual options trading on Tuesday. Stock investors bought 67,515 call options on the company. This is an increase of approximately 974% compared to the average volume of 6,286 call options.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.18. The company had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. On average, analysts predict that BP p.l.c. will post $1.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Wednesday, August 9th. BP p.l.c.’s dividend payout ratio is 206.96%.
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Several analysts have commented on the company. Scotiabank set a $37.00 price target on BP p.l.c. and gave the company a “buy” rating in a report on Tuesday, August 1st. BidaskClub upgraded BP p.l.c. from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Piper Jaffray Companies upgraded BP p.l.c. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $36.33 to $42.00 in a report on Friday, August 4th. Societe Generale cut BP p.l.c. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $35.04 to $34.90 in a report on Wednesday, July 26th. Finally, Argus boosted their target price on BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, June 1st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $36.51.
About BP p.l.c.
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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