BP plc (BP) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of BP plc (NYSE:BP) by 1,277.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 389,499 shares of the oil and gas exploration company’s stock after purchasing an additional 361,215 shares during the quarter. Hsbc Holdings PLC’s holdings in BP were worth $17,956,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Keystone Financial Group increased its holdings in BP by 25.9% in the third quarter. Keystone Financial Group now owns 30,214 shares of the oil and gas exploration company’s stock valued at $1,413,000 after purchasing an additional 6,210 shares during the period. Mutual Advisors LLC acquired a new stake in BP in the second quarter valued at $205,000. MML Investors Services LLC increased its holdings in BP by 42.8% in the third quarter. MML Investors Services LLC now owns 127,292 shares of the oil and gas exploration company’s stock valued at $5,868,000 after purchasing an additional 38,172 shares during the period. Standard Life Aberdeen plc acquired a new stake in BP in the second quarter valued at $15,972,000. Finally, Russell Investments Group Ltd. increased its holdings in BP by 8.2% in the third quarter. Russell Investments Group Ltd. now owns 3,577,573 shares of the oil and gas exploration company’s stock valued at $165,387,000 after purchasing an additional 270,289 shares during the period. Institutional investors own 11.04% of the company’s stock.

Shares of BP opened at $40.35 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.53. The firm has a market cap of $134.20 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 0.63 and a beta of 0.85. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.29. The business had revenue of $79.47 billion for the quarter, compared to analysts’ expectations of $75.31 billion. BP had a net margin of 2.91% and a return on equity of 11.14%. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts predict that BP plc will post 3.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be given a dividend of $0.615 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a yield of 6.10%. BP’s dividend payout ratio (DPR) is currently 129.79%.

A number of analysts recently weighed in on the company. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday, October 3rd. Goldman Sachs Group upgraded BP from a “buy” rating to a “conviction-buy” rating in a report on Thursday, August 9th. Santander upgraded BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Morgan Stanley upgraded BP from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 5th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $53.22.

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BP 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).

See Also: Dividend

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Institutional Ownership by Quarter for BP (NYSE:BP)

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