Eaton Vance Management lifted its stake in BP plc (NYSE:BP) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,229 shares of the oil and gas exploration company’s stock after purchasing an additional 9,871 shares during the period. Eaton Vance Management’s holdings in BP were worth $3,883,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BP. Keystone Financial Group lifted its holdings in BP by 25.9% during the third quarter. Keystone Financial Group now owns 30,214 shares of the oil and gas exploration company’s stock worth $1,413,000 after acquiring an additional 6,210 shares in the last quarter. Mutual Advisors LLC bought a new position in BP during the second quarter worth about $205,000. MML Investors Services LLC lifted its holdings in BP by 42.8% during the third quarter. MML Investors Services LLC now owns 127,292 shares of the oil and gas exploration company’s stock worth $5,868,000 after acquiring an additional 38,172 shares in the last quarter. Standard Life Aberdeen plc bought a new position in BP during the second quarter worth about $15,972,000. Finally, Russell Investments Group Ltd. lifted its holdings in BP by 8.2% during the third quarter. Russell Investments Group Ltd. now owns 3,577,573 shares of the oil and gas exploration company’s stock worth $165,387,000 after acquiring an additional 270,289 shares in the last quarter. Institutional investors and hedge funds own 11.17% of the company’s stock.
Several research firms have weighed in on BP. Zacks Investment Research upgraded BP from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, November 19th. Piper Jaffray Companies reiterated an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Berenberg Bank began coverage on BP in a report on Tuesday, September 11th. They set a “buy” rating on the stock. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, October 3rd. Finally, Santander upgraded BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. BP currently has an average rating of “Buy” and an average price target of $53.22.
BP opened at $39.51 on Friday. BP plc has a 1 year low of $36.15 and a 1 year high of $47.83. The stock has a market capitalization of $131.67 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 1.22.
BP (NYSE:BP) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.29. BP had a return on equity of 11.14% and a net margin of 2.91%. The firm had revenue of $79.47 billion for the quarter, compared to the consensus estimate of $75.31 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. On average, analysts expect that BP plc will post 3.63 EPS for the current fiscal 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 paid a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Thursday, November 8th. BP’s dividend payout ratio is 129.79%.
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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).
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