Alliancebernstein L.P. reduced its stake in shares of BP p.l.c. (NYSE:BP) by 28.7% during the first quarter, Holdings Channel reports. The firm owned 10,507 shares of the oil and gas exploration company’s stock after selling 4,226 shares during the period. Alliancebernstein L.P.’s holdings in BP p.l.c. were worth $363,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of BP p.l.c. during the fourth quarter valued at about $15,632,000. UBS Asset Management Americas Inc. bought a new stake in shares of BP p.l.c. during the fourth quarter valued at about $151,000. Carroll Financial Associates Inc. boosted its stake in shares of BP p.l.c. by 37.0% in the first quarter. Carroll Financial Associates Inc. now owns 6,255 shares of the oil and gas exploration company’s stock valued at $215,000 after buying an additional 1,690 shares during the period. Highland Capital Management LLC boosted its stake in shares of BP p.l.c. by 63.4% in the first quarter. Highland Capital Management LLC now owns 67,666 shares of the oil and gas exploration company’s stock valued at $2,336,000 after buying an additional 26,250 shares during the period. Finally, Gradient Investments LLC boosted its stake in shares of BP p.l.c. by 17.0% in the first quarter. Gradient Investments LLC now owns 30,389 shares of the oil and gas exploration company’s stock valued at $1,049,000 after buying an additional 4,421 shares during the period. Institutional investors and hedge funds own 9.95% of the company’s stock.

Shares of BP p.l.c. (NYSE BP) traded down 1.49% on Friday, hitting $34.94. The stock had a trading volume of 5,004,052 shares. The firm has a 50-day moving average of $35.15 and a 200 day moving average of $35.01. The company has a market capitalization of $114.94 billion, a PE ratio of 30.49 and a beta of 0.94. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $38.68.

BP p.l.c. (NYSE:BP) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The company had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. On average, equities analysts anticipate that BP p.l.c. will post $1.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Wednesday, August 9th. BP p.l.c.’s dividend payout ratio is currently 206.96%.

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Several equities research analysts recently issued reports on BP shares. Citigroup Inc. cut BP p.l.c. from a “buy” rating to a “neutral” rating and cut their price target for the company from $38.88 to $30.66 in a research note on Wednesday, April 19th. Simmons boosted their price target on BP p.l.c. from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, April 19th. Vetr cut BP p.l.c. from a “buy” rating to a “hold” rating and set a $33.35 price target for the company. in a research note on Monday, May 1st. Jefferies Group LLC set a $36.00 target price on BP p.l.c. and gave the stock a “hold” rating in a research note on Wednesday, May 17th. Finally, Argus upped their target price on BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, June 1st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. BP p.l.c. has an average rating of “Hold” and an average target price of $36.51.

About BP p.l.c.

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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Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

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