Quadrant Capital Group LLC lifted its holdings in shares of BP plc (NYSE:BP) by 32.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,178 shares of the oil and gas exploration company’s stock after acquiring an additional 8,437 shares during the period. Quadrant Capital Group LLC’s holdings in BP were worth $1,476,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of BP by 12.2% during the 3rd quarter. Teachers Advisors LLC now owns 266,593 shares of the oil and gas exploration company’s stock worth $12,290,000 after acquiring an additional 28,900 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of BP by 17.3% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 641,985 shares of the oil and gas exploration company’s stock worth $29,596,000 after acquiring an additional 94,500 shares in the last quarter. B. Riley Wealth Management Inc. bought a new position in shares of BP during the 3rd quarter worth approximately $348,000. Csenge Advisory Group bought a new position in shares of BP during the 3rd quarter worth approximately $112,000. Finally, Morgan Stanley raised its stake in shares of BP by 2.2% during the 3rd quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock worth $383,594,000 after acquiring an additional 179,526 shares in the last quarter. Institutional investors and hedge funds own 10.77% of the company’s stock.
Several research analysts recently commented on BP shares. Zacks Investment Research upgraded shares of BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Royal Bank of Canada downgraded 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, April 16th. Finally, Deutsche Bank reissued a “buy” rating on shares of BP in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. BP presently has a consensus rating of “Buy” and a consensus target price of $55.41.
NYSE:BP traded down $0.41 during trading hours on Wednesday, hitting $42.34. 4,055,399 shares of the company were exchanged, compared to its average volume of 5,305,131. The company has a market cap of $142.52 billion, a PE ratio of 11.14, a P/E/G ratio of 1.76 and a beta of 0.78. BP plc has a 52-week low of $36.28 and a 52-week high of $47.57. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.61.
BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $66.32 billion for the quarter, compared to the consensus estimate of $64.85 billion. BP had a net margin of 3.26% and a return on equity of 12.19%. BP’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, analysts expect that BP plc will post 3.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 10th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Thursday, May 9th. BP’s dividend payout ratio (DPR) is currently 64.21%.
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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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