Great Lakes Advisors LLC Invests $379,000 in BP plc (BP) Stock
Great Lakes Advisors LLC bought a new stake in BP plc (NYSE:BP) in the 1st quarter, HoldingsChannel reports. The firm bought 8,673 shares of the oil and gas exploration company’s stock, valued at approximately $379,000.
A number of other large investors also recently modified their holdings of the business. FMR LLC grew its holdings 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 valued at $985,939,000 after buying an additional 4,797,414 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of BP by 1.5% during 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. BlackRock Inc. grew its holdings in shares of 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 worth $303,944,000 after purchasing an additional 2,292,327 shares during the period. Fisher Asset Management LLC grew its holdings in shares of 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 worth $294,862,000 after purchasing an additional 422,915 shares during the period. Finally, Sanders Capital LLC grew its holdings in shares of BP by 1.4% during the 4th quarter. Sanders Capital LLC now owns 6,480,223 shares of the oil and gas exploration company’s stock worth $245,730,000 after purchasing an additional 91,200 shares during the period. Institutional investors own 11.05% of the company’s stock.
A number of equities analysts have recently weighed in on BP shares. Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target for the company. in a report on Tuesday, April 16th. Finally, Deutsche Bank reiterated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. BP has a consensus rating of “Buy” and a consensus price target of $55.41.
BP (NYSE:BP) last announced its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. BP had a return on equity of 12.19% and a net margin of 3.26%. The company had revenue of $66.32 billion during the quarter, compared to analysts’ expectations of $64.85 billion. During the same period last year, the business posted $0.13 EPS. BP’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts expect that BP plc will post 3.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 9th. BP’s dividend payout ratio (DPR) 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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