BP plc (BP) Stake Lowered by Brandywine Global Investment Management LLC
Brandywine Global Investment Management LLC decreased its stake in shares of BP plc (NYSE:BP) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,331,213 shares of the oil and gas exploration company’s stock after selling 179,232 shares during the quarter. BP comprises approximately 1.5% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. Brandywine Global Investment Management LLC owned about 0.16% of BP worth $202,160,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in BP by 31.7% during the 3rd quarter. FMR LLC now owns 21,203,070 shares of the oil and gas exploration company’s stock valued at $977,462,000 after acquiring an additional 5,099,444 shares in the last quarter. Renaissance Technologies LLC lifted its stake in BP by 31.6% during the 3rd quarter. Renaissance Technologies LLC now owns 11,921,446 shares of the oil and gas exploration company’s stock valued at $549,579,000 after acquiring an additional 2,863,902 shares in the last quarter. Morgan Stanley lifted its stake in 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 valued at $383,594,000 after acquiring an additional 179,526 shares in the last quarter. BlackRock Inc. lifted its stake in BP by 40.1% during the 4th quarter. BlackRock Inc. now owns 8,015,386 shares of the oil and gas exploration company’s stock valued at $303,944,000 after acquiring an additional 2,292,327 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in BP by 5.8% during the 4th quarter. Fisher Asset Management LLC now owns 7,775,905 shares of the oil and gas exploration company’s stock valued at $294,862,000 after acquiring an additional 422,915 shares in the last quarter. 10.80% of the stock is owned by institutional investors.
Several equities analysts have weighed in on BP shares. Raymond James upgraded BP from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 20th. They noted that the move was a valuation call. Wells Fargo & Co started coverage on BP in a research note on Tuesday, December 18th. They set a “market perform” rating and a $41.00 price objective on the stock. Zacks Investment Research upgraded BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, November 19th. Finally, Deutsche Bank restated a “buy” rating on shares of BP in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $53.74.
BP (NYSE:BP) last released its earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.27. The company had revenue of $75.68 billion for the quarter, compared to analysts’ expectations of $78.78 billion. BP had a return on equity of 12.45% and a net margin of 3.09%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, sell-side analysts forecast that BP plc will post 3.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, February 15th will be paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date is Thursday, February 14th. BP’s payout ratio is 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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