Gofen & Glossberg LLC IL raised its holdings in BP plc (NYSE:BP) by 20.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,187 shares of the oil and gas exploration company’s stock after buying an additional 5,365 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in BP were worth $1,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BP. FMR LLC grew its holdings in BP by 88.5% in the 2nd quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock valued at $735,292,000 after buying an additional 7,562,842 shares during the last quarter. Millennium Management LLC grew its holdings in shares of BP by 377.1% during the 2nd quarter. Millennium Management LLC now owns 2,937,845 shares of the oil and gas exploration company’s stock worth $134,142,000 after purchasing an additional 2,322,118 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of BP by 23.4% during the 2nd quarter. Renaissance Technologies LLC now owns 9,057,544 shares of the oil and gas exploration company’s stock worth $413,567,000 after purchasing an additional 1,714,700 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of BP during the 2nd quarter worth approximately $64,175,000. Finally, BlackRock Inc. grew its holdings in shares of BP by 27.5% during the 2nd quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock worth $252,017,000 after purchasing an additional 1,191,854 shares in the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.
BP stock opened at $44.55 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market cap of $153.32 billion, a P/E ratio of 23.70, a P/E/G ratio of 3.39 and a beta of 0.90. BP plc has a one year low of $36.15 and a one year high of $47.83.
BP (NYSE:BP) last posted its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The business had revenue of $75.44 billion during the quarter, compared to the consensus estimate of $82.25 billion. BP had a return on equity of 9.28% and a net margin of 2.55%. BP’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. On average, equities research analysts forecast that BP plc will post 3.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 21st were given a dividend of $0.615 per share. The ex-dividend date of this dividend was Friday, September 21st. This represents a $2.46 annualized dividend and a dividend yield of 5.52%. BP’s dividend payout ratio (DPR) is presently 129.79%.
Several analysts have recently weighed in on the company. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, October 3rd. Berenberg Bank assumed coverage on BP in a report on Tuesday, September 11th. They set a “buy” rating on the stock. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 5th. Santander raised BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Finally, Goldman Sachs Group raised BP from a “buy” rating to a “conviction-buy” rating in a report on Thursday, August 9th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $51.84.
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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