First Manhattan Co. trimmed its stake in BP plc (NYSE:BP) by 3.9% during the 1st quarter, Holdings Channel reports. The firm owned 30,911 shares of the oil and gas exploration company’s stock after selling 1,248 shares during the period. First Manhattan Co.’s holdings in BP were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eukles Asset Management acquired a new stake in BP in the 4th quarter worth $26,000. Perkins Coie Trust Co boosted its position in shares of BP by 66.7% during the 1st quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 252 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of BP during the 4th quarter valued at about $29,000. Pinnacle Bank acquired a new stake in shares of BP during the 4th quarter valued at about $39,000. Finally, Dubuque Bank & Trust Co. boosted its position in shares of BP by 35.8% during the 1st quarter. Dubuque Bank & Trust Co. now owns 910 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 10.80% of the company’s stock.
Several brokerages have recently weighed in on BP. Royal Bank of Canada lowered shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research report on Tuesday. Deutsche Bank reiterated a “buy” rating on shares of BP in a research report on Thursday, March 7th. Zacks Investment Research upgraded shares of BP from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Wells Fargo & Co began coverage on shares of BP in a research report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.13.
BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.27. The firm had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. BP had a net margin of 3.09% and a return on equity of 12.45%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. Research analysts predict that BP plc will post 3.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, February 15th were given a $0.615 dividend. The ex-dividend date was Thursday, February 14th. This represents a $2.46 dividend on an annualized basis and a yield of 5.53%. BP’s dividend payout ratio (DPR) is presently 64.21%.
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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