MSI Financial Services Inc cut its position in BP PLC (NYSE:BP) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 68,126 shares of the oil and gas exploration company’s stock after selling 1,907 shares during the period. MSI Financial Services Inc’s holdings in BP PLC were worth $2,396,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new stake in BP PLC during the second quarter worth $157,139,000. Rockefeller Financial Services Inc. boosted its stake in BP PLC by 3.3% in the second quarter. Rockefeller Financial Services Inc. now owns 320,984 shares of the oil and gas exploration company’s stock worth $11,398,000 after buying an additional 10,194 shares in the last quarter. GW&K Investment Management LLC boosted its stake in BP PLC by 80.4% in the second quarter. GW&K Investment Management LLC now owns 920,581 shares of the oil and gas exploration company’s stock worth $32,690,000 after buying an additional 410,174 shares in the last quarter. Aviance Capital Management LLC boosted its stake in BP PLC by 20.2% in the second quarter. Aviance Capital Management LLC now owns 1,455,102 shares of the oil and gas exploration company’s stock worth $51,671,000 after buying an additional 244,753 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its stake in BP PLC by 81.3% in the second quarter. Ngam Advisors L.P. now owns 367,515 shares of the oil and gas exploration company’s stock worth $13,051,000 after buying an additional 164,756 shares in the last quarter. Institutional investors and hedge funds own 11.71% of the company’s stock.
Shares of BP PLC (NYSE:BP) traded down 1.60% during mid-day trading on Monday, reaching $33.72. The company had a trading volume of 5,430,987 shares. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.28. The stock’s market capitalization is $106.29 billion. The company’s 50-day moving average is $34.77 and its 200 day moving average is $34.13.
BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $48.04 billion for the quarter, compared to analyst estimates of $50.51 billion. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The firm’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Analysts anticipate that BP PLC will post $1.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 11th will be given a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 annualized dividend and a yield of 6.94%. BP PLC’s dividend payout ratio (DPR) is -195.08%.
BP has been the topic of a number of research reports. Vetr upgraded BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.28 price target on the stock in a report on Wednesday, September 21st. Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a research note on Sunday, September 11th. BNP Paribas reaffirmed an “outperform” rating on shares of BP PLC in a research note on Tuesday, October 11th. Barclays PLC reaffirmed a “buy” rating on shares of BP PLC in a research note on Thursday, October 6th. Finally, Zacks Investment Research raised BP PLC from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $37.48.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.