Today: Pzena Investment Management LLC Sold shares of BP PLC (BP)

Today: Pzena Investment Management LLC Sold shares of BP PLC (BP)

Pzena Investment Management LLC cut its position in BP PLC (NYSE:BP) by 16.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,446,839 shares of the oil and gas exploration company’s stock after selling 1,431,385 shares during the period. BP PLC makes up approximately 1.6% of Pzena Investment Management LLC’s holdings, making the stock its 26th largest position. Pzena Investment Management LLC owned about 0.24% of BP PLC worth $261,831,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. United Asset Strategies Inc. acquired a new position in shares of BP PLC during the third quarter worth $206,000. Sei Investments Co. raised its position in shares of BP PLC by 2.1% in the third quarter. Sei Investments Co. now owns 210,181 shares of the oil and gas exploration company’s stock valued at $7,390,000 after buying an additional 4,352 shares during the period. Rand Wealth LLC raised its position in shares of BP PLC by 11.8% in the third quarter. Rand Wealth LLC now owns 8,263 shares of the oil and gas exploration company’s stock valued at $291,000 after buying an additional 870 shares during the period. Coconut Grove Bank raised its position in shares of BP PLC by 17.1% in the third quarter. Coconut Grove Bank now owns 7,791 shares of the oil and gas exploration company’s stock valued at $274,000 after buying an additional 1,135 shares during the period. Finally, TIAA CREF Trust Co. FSB MO raised its position in shares of BP PLC by 0.5% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 82,386 shares of the oil and gas exploration company’s stock valued at $2,897,000 after buying an additional 374 shares during the period. Institutional investors and hedge funds own 11.71% of the company’s stock.

Shares of BP PLC (NYSE:BP) traded down 0.697% on Monday, hitting $34.031. The stock had a trading volume of 3,265,044 shares. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.28. The company’s market cap is $107.27 billion. The company has a 50-day moving average of $34.84 and a 200-day moving average of $34.08.

BP PLC (NYSE:BP) last announced its earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. BP PLC had a positive return on equity of 2.48% and a negative net margin of 2.03%. The business earned $48.04 billion during the quarter, compared to analyst estimates of $50.51 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 16.2% compared to the same quarter last year. On average, equities analysts anticipate that BP PLC will post $1.10 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 11th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 annualized dividend and a dividend yield of 6.94%. BP PLC’s dividend payout ratio (DPR) is presently -195.08%.

Several equities analysts have recently commented on BP shares. Vetr upgraded BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.87 price objective on the stock in a research report on Monday, August 1st. reiterated a “buy” rating on shares of BP PLC in a research report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of BP PLC in a research report on Thursday, September 8th. Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. Finally, Barclays PLC reiterated a “buy” rating on shares of BP PLC in a research report on Thursday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.48.

BP PLC Company Profile

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