Grimes & Company Inc. Has $346,000 Position in BP PLC (BP)
Grimes & Company Inc. raised its stake in shares of BP PLC (NYSE:BP) by 33.1% during the second quarter, Holdings Channel reports. The firm owned 9,753 shares of the oil and gas exploration company’s stock after buying an additional 2,426 shares during the period. Grimes & Company Inc.’s holdings in BP PLC were worth $346,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in BP. Washington Trust Bank boosted its position in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares during the last quarter. Iowa State Bank purchased a new position in BP PLC during the second quarter valued at $159,000. Commonwealth Financial Services LLC boosted its position in BP PLC by 6.1% in the second quarter. Commonwealth Financial Services LLC now owns 4,894 shares of the oil and gas exploration company’s stock valued at $174,000 after buying an additional 283 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in BP PLC by 5.6% in the second quarter. JFS Wealth Advisors LLC now owns 5,381 shares of the oil and gas exploration company’s stock valued at $191,000 after buying an additional 286 shares during the last quarter. 12.06% of the stock is currently owned by institutional investors and hedge funds.
BP PLC (NYSE:BP) traded up 1.63% on Wednesday, reaching $33.61. The company had a trading volume of 6,634,783 shares. The company’s 50-day moving average price is $33.88 and its 200 day moving average price is $32.85. The firm’s market capitalization is $105.18 billion. BP PLC has a 1-year low of $27.01 and a 1-year high of $37.53.
BP PLC (NYSE:BP) last issued its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. The firm earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company’s revenue was down 25.7% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. On average, equities analysts forecast that BP PLC will post $1.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a dividend yield of 7.08%. BP PLC’s dividend payout ratio (DPR) is presently -139.18%.
Several equities analysts have recently weighed in on BP shares. Citigroup Inc. raised BP PLC from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.15 to $39.00 in a report on Thursday, June 16th. Credit Suisse Group AG raised BP PLC from an “underperform” rating to a “neutral” rating in a report on Tuesday, July 5th. Vetr cut BP PLC from a “strong-buy” rating to a “buy” rating and set a $37.66 target price on the stock. in a report on Friday, August 12th. Jefferies Group reaffirmed a “hold” rating on shares of BP PLC in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP PLC in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.63.
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.
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