CIBC Asset Management Inc Increases Position in BP plc (BP)
CIBC Asset Management Inc lifted its position in shares of BP plc (NYSE:BP) by 206.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,215 shares of the oil and gas exploration company’s stock after buying an additional 170,595 shares during the period. CIBC Asset Management Inc’s holdings in BP were worth $11,068,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in BP by 22.6% in the 4th quarter. FMR LLC now owns 26,000,484 shares of the oil and gas exploration company’s stock worth $985,939,000 after purchasing an additional 4,797,414 shares during the period. Bank of America Corp DE increased its stake in BP by 1.5% in the 4th quarter. Bank of America Corp DE now owns 10,395,325 shares of the oil and gas exploration company’s stock worth $394,191,000 after purchasing an additional 152,503 shares during the period. Morgan Stanley increased its stake in BP by 2.2% in the 3rd quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock worth $383,594,000 after purchasing an additional 179,526 shares during the period. BlackRock Inc. increased its stake in BP by 40.1% in the 4th quarter. BlackRock Inc. now owns 8,015,386 shares of the oil and gas exploration company’s stock worth $303,944,000 after purchasing an additional 2,292,327 shares during the period. Finally, Fisher Asset Management LLC increased its stake in BP by 5.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,775,905 shares of the oil and gas exploration company’s stock worth $294,862,000 after purchasing an additional 422,915 shares during the period. 10.77% of the stock is currently owned by institutional investors.
NYSE BP opened at $41.55 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02. BP plc has a twelve month low of $36.28 and a twelve month high of $47.83. The company has a market cap of $137.84 billion, a P/E ratio of 10.93, a PEG ratio of 1.72 and a beta of 0.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be given a dividend of $0.615 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.46 annualized dividend and a dividend yield of 5.92%. BP’s dividend payout ratio is presently 64.21%.
BP has been the topic of a number of analyst reports. Deutsche Bank reaffirmed a “buy” rating on shares of BP in a research note on Thursday, March 7th. Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research note on Tuesday, April 16th. Finally, Zacks Investment Research raised BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.41.
BP Company Profile
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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