Blue Granite Capital LLC reduced its position in shares of BP p.l.c. (NYSE:BP) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in BP p.l.c. by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock worth $1,074,889,000 after buying an additional 614,408 shares during the last quarter. BlackRock Inc. boosted its stake in shares of BP p.l.c. by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares in the last quarter. Morgan Stanley boosted its stake in shares of BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after buying an additional 623,612 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of BP p.l.c. by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 4,169,463 shares of the oil and gas exploration company’s stock valued at $143,927,000 after buying an additional 309,046 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in shares of BP p.l.c. by 8.1% in the first quarter. Sound Shore Management Inc. CT now owns 4,069,591 shares of the oil and gas exploration company’s stock valued at $140,482,000 after buying an additional 303,382 shares in the last quarter. 9.95% of the stock is currently owned by institutional investors and hedge funds.
BP p.l.c. (BP) opened at 34.94 on Friday. The company has a 50-day moving average of $35.15 and a 200-day moving average of $35.01. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $38.68. The company has a market cap of $114.94 billion, a P/E ratio of 30.49 and a beta of 0.94.
BP p.l.c. (NYSE:BP) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.18. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts expect that BP p.l.c. will post $1.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be paid a $0.595 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 annualized dividend and a dividend yield of 6.81%. BP p.l.c.’s payout ratio is 206.96%.
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Several brokerages have weighed in on BP. Scotiabank set a $37.00 price objective on shares of BP p.l.c. and gave the stock a “buy” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of BP p.l.c. from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies raised shares of BP p.l.c. from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $36.33 to $42.00 in a research note on Friday, August 4th. Societe Generale lowered shares of BP p.l.c. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $35.04 to $34.90 in a research report on Wednesday, July 26th. Finally, Argus upped their target price on shares of BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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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