RNC Capital Management LLC bought a new position in BP PLC (NYSE:BP) during the second quarter, Holdings Channel reports. The fund bought 6,711 shares of the oil and gas exploration company’s stock, valued at approximately $238,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of BP PLC by 13.1% in the first quarter. Franklin Resources Inc. now owns 30,033,235 shares of the oil and gas exploration company’s stock valued at $906,404,000 after buying an additional 3,467,640 shares during the period. Acadian Asset Management LLC boosted its stake in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares during the period. Renaissance Technologies LLC boosted its stake in shares of BP PLC by 226.5% in the first quarter. Renaissance Technologies LLC now owns 979,700 shares of the oil and gas exploration company’s stock valued at $29,567,000 after buying an additional 679,600 shares during the period. GW&K Investment Management LLC boosted its stake in shares of 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 valued at $32,690,000 after buying an additional 410,174 shares during the period. Finally, Chubb Ltd. acquired a new stake in shares of BP PLC during the first quarter valued at $12,072,000. Institutional investors own 12.65% of the company’s stock.

Shares of BP PLC (NYSE:BP) traded down 0.89% on Friday, hitting $33.31. 5,594,561 shares of the stock were exchanged. The company’s market cap is $104.24 billion. The company has a 50 day moving average of $33.99 and a 200 day moving average of $32.73. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.53.

BP PLC (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The firm earned $46.44 billion during the quarter, compared to analysts’ expectations of $50.22 billion. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was down 25.7% compared to the same quarter last year. Equities research analysts forecast that BP PLC will post $1.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 7.15%. The ex-dividend date of this dividend was Wednesday, August 3rd. BP PLC’s payout ratio is -139.18%.

Several equities analysts have recently commented on the stock. Collins Stewart restated a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. Vetr cut shares of BP PLC from a “buy” rating to a “hold” rating and set a $36.43 target price for the company. in a research report on Thursday, September 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of BP PLC in a research report on Thursday, July 21st. Jefferies Group restated a “hold” rating on shares of BP PLC in a research report on Thursday, September 8th. Finally, Citigroup Inc. restated a “buy” rating on shares of BP PLC in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $38.55.

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.

5 Day Chart for NYSE:BP

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