Holderness Investments Co. boosted its position in BP plc (NYSE:BP) by 7.3% in the first quarter, HoldingsChannel reports. The firm owned 11,098 shares of the oil and gas exploration company’s stock after buying an additional 759 shares during the quarter. Holderness Investments Co.’s holdings in BP were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perkins Coie Trust Co increased its position in BP by 66.7% during the 1st quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock valued at $28,000 after buying an additional 252 shares in the last quarter. JNBA Financial Advisors purchased a new position in BP in the fourth quarter worth approximately $29,000. Ellis Investment Partners LLC purchased a new position in BP in the first quarter worth approximately $29,000. Marino Stram & Associates LLC boosted its position in shares of BP by 71.0% during the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock worth $29,000 after buying an additional 277 shares during the period. Finally, Horan Capital Advisors LLC. purchased a new position in BP in the first quarter valued at $35,000. 11.02% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on BP shares. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target on the stock. in a research note on Tuesday, April 16th. Deutsche Bank reissued a “buy” rating on shares of BP in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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 stock opened at $40.91 on Monday. BP plc has a 12-month low of $36.28 and a 12-month high of $47.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.72. The company has a market capitalization of $136.77 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.69 and a beta of 0.79.

BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. BP had a net margin of 3.26% and a return on equity of 12.19%. The company had revenue of $66.32 billion during the quarter, compared to the consensus estimate of $64.85 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that BP plc will post 3.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be given a $0.615 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a yield of 6.01%. BP’s payout ratio is 64.21%.

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BP 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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Institutional Ownership by Quarter for BP (NYSE:BP)

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