Asset Dedication LLC lifted its position in shares of BP plc (NYSE:BP) by 313.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,251 shares of the oil and gas exploration company’s stock after buying an additional 7,015 shares during the period. Asset Dedication LLC’s holdings in BP were worth $162,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in shares of BP by 16.5% during the third quarter. Global Retirement Partners LLC now owns 28,357 shares of the oil and gas exploration company’s stock valued at $495,000 after buying an additional 4,012 shares during the period. Two Sigma Advisers LP purchased a new position in shares of BP during the second quarter valued at approximately $1,565,000. State Street Corp raised its stake in BP by 4.3% during the first quarter. State Street Corp now owns 28,472,105 shares of the oil and gas exploration company’s stock worth $694,435,000 after purchasing an additional 1,171,056 shares during the period. Trexquant Investment LP purchased a new position in BP during the second quarter worth approximately $522,000. Finally, APG Asset Management N.V. purchased a new position in BP during the first quarter worth approximately $23,628,000. 8.51% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on BP shares. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and set a $26.90 target price on the stock in a research note on Thursday, July 16th. AlphaValue lowered shares of BP from a “buy” rating to a “reduce” rating in a report on Thursday, October 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of BP in a report on Wednesday, October 7th. Piper Sandler raised shares of BP from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $31.00 in a report on Monday, August 17th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BP in a research report on Monday, October 12th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. BP has an average rating of “Hold” and a consensus target price of $28.99.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by ($0.99). The business had revenue of $31.68 billion during the quarter, compared to analyst estimates of $38.70 billion. BP had a negative return on equity of 1.14% and a negative net margin of 9.45%. The business’s revenue for the quarter was down 56.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, research analysts anticipate that BP plc will post -1.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, August 14th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Thursday, August 13th. BP’s dividend payout ratio (DPR) is currently 42.03%.
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).
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