Kornitzer Capital Management Inc. KS Sells 13,284 Shares of BP p.l.c. (BP)

Kornitzer Capital Management Inc. KS reduced its position in shares of BP p.l.c. (NYSE:BP) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 922,937 shares of the oil and gas exploration company’s stock after selling 13,284 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BP p.l.c. were worth $31,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its position 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 period. BlackRock Inc. increased its position in 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 worth $407,466,000 after buying an additional 11,731,496 shares during the period. Morgan Stanley increased its position in 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 worth $213,544,000 after buying an additional 623,612 shares during the period. Russell Investments Group Ltd. increased its position in 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 worth $143,927,000 after buying an additional 309,046 shares during the period. Finally, Sound Shore Management Inc. CT increased its position in 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 worth $140,482,000 after buying an additional 303,382 shares during the period. 9.95% of the stock is currently owned by institutional investors.

BP p.l.c. (BP) opened at 34.94 on Friday. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $38.68. The stock has a 50 day moving average price of $35.15 and a 200 day moving average price of $35.01. The company has a market capitalization of $114.94 billion, a price-to-earnings ratio of 30.49 and a beta of 0.94.

BP p.l.c. (NYSE:BP) last announced its quarterly earnings results 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. The firm had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. BP p.l.c.’s revenue was up 21.7% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. On average, analysts expect that BP p.l.c. will post $1.69 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 11th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Wednesday, August 9th. BP p.l.c.’s dividend payout ratio (DPR) is currently 206.96%.

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A number of research analysts recently weighed in on the company. Scotiabank set a $37.00 price target on BP p.l.c. and gave the stock a “buy” rating in a research note on Tuesday, August 1st. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Vetr raised BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 price target on the stock in a research note on Monday, May 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Finally, Kepler Capital Markets downgraded BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. BP p.l.c. presently has an average rating of “Hold” and an average 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.

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

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