440 Investment Group LLC Increases Holdings in BP plc (BP)
440 Investment Group LLC raised its holdings in shares of BP plc (NYSE:BP) by 41.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,452 shares of the oil and gas exploration company’s stock after buying an additional 4,558 shares during the period. 440 Investment Group LLC’s holdings in BP were worth $649,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of BP by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after purchasing an additional 61,668 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of BP by 6.2% in the third quarter. Russell Investments Group Ltd. now owns 4,085,982 shares of the oil and gas exploration company’s stock worth $157,009,000 after purchasing an additional 240,212 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of BP by 4.5% in the third quarter. Parametric Portfolio Associates LLC now owns 2,975,774 shares of the oil and gas exploration company’s stock worth $114,359,000 after purchasing an additional 126,862 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of BP by 1.3% in the third quarter. New York State Common Retirement Fund now owns 605,397 shares of the oil and gas exploration company’s stock worth $23,265,000 after purchasing an additional 7,719 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of BP by 5.4% in the third quarter. Aperio Group LLC now owns 600,460 shares of the oil and gas exploration company’s stock worth $23,076,000 after purchasing an additional 30,762 shares in the last quarter. 9.94% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on BP. Vetr lowered shares of BP from a “buy” rating to a “hold” rating and set a $40.67 target price for the company. in a research report on Monday, October 30th. Zacks Investment Research lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a research report on Wednesday, November 8th. Evercore ISI upped their target price on shares of BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $39.00 target price on shares of BP in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $38.63.
Shares of BP plc (BP) traded up $0.64 on Tuesday, hitting $43.91. 5,649,800 shares of the stock traded hands, compared to its average volume of 4,621,667. BP plc has a 1-year low of $33.10 and a 1-year high of $43.99. The stock has a market capitalization of $141,550.00, a P/E ratio of 37.53, a P/E/G ratio of 0.93 and a beta of 0.97. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.
BP (NYSE:BP) last posted its earnings results on Tuesday, October 31st. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. BP had a net margin of 1.70% and a return on equity of 4.52%. sell-side analysts forecast that BP plc will post 1.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, November 10th were issued a $0.60 dividend. This is a boost from BP’s previous quarterly dividend of $0.60. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Thursday, November 9th. BP’s dividend payout ratio (DPR) is currently 203.42%.
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BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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