Argent Trust Co boosted its position in shares of BP plc (NYSE:BP) by 3.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,739 shares of the oil and gas exploration company’s stock after purchasing an additional 1,476 shares during the quarter. Argent Trust Co’s holdings in BP were worth $1,659,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of BP by 31.7% in the 3rd quarter. FMR LLC now owns 21,203,070 shares of the oil and gas exploration company’s stock valued at $977,462,000 after purchasing an additional 5,099,444 shares during the period. Renaissance Technologies LLC lifted its stake in shares of BP by 31.6% in the 3rd quarter. Renaissance Technologies LLC now owns 11,921,446 shares of the oil and gas exploration company’s stock valued at $549,579,000 after purchasing an additional 2,863,902 shares during the period. Morgan Stanley lifted its stake in shares of BP by 2.2% in the 3rd quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock valued at $383,594,000 after purchasing an additional 179,526 shares during the period. Fisher Asset Management LLC lifted its stake in shares of BP by 5.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,775,905 shares of the oil and gas exploration company’s stock valued at $294,862,000 after purchasing an additional 422,915 shares during the period. Finally, Sanders Capital LLC lifted its stake in shares of BP by 1.4% in the 4th quarter. Sanders Capital LLC now owns 6,480,223 shares of the oil and gas exploration company’s stock valued at $245,730,000 after purchasing an additional 91,200 shares during the period. 11.09% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. Zacks Investment Research raised BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, November 19th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of BP in a research note on Tuesday, October 23rd. Wells Fargo & Co assumed coverage on BP in a research note on Tuesday, December 18th. They set a “market perform” rating and a $41.00 price objective on the stock. Finally, Raymond James raised BP from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 20th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.79.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 5th. The oil and gas exploration company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.27. The business had revenue of $75.68 billion for the quarter, compared to the consensus estimate of $78.78 billion. BP had a return on equity of 12.45% and a net margin of 3.09%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, analysts expect that BP plc will post 3.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 15th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Thursday, February 14th. BP’s dividend payout ratio (DPR) is presently 64.21%.
COPYRIGHT VIOLATION WARNING: “Argent Trust Co Boosts Holdings in BP plc (BP)” was posted by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.com-unik.info/2019/02/14/argent-trust-co-boosts-holdings-in-bp-plc-bp.html.
BP Company 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).
Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.