Lowe Brockenbrough & Co. Inc. Has $691,000 Stake in BP p.l.c. (BP)
Lowe Brockenbrough & Co. Inc. increased its position in BP p.l.c. (NYSE:BP) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 20,014 shares of the oil and gas exploration company’s stock after buying an additional 390 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in BP p.l.c. were worth $691,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BP. State Street Corp raised its stake in BP p.l.c. by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock valued at $1,074,889,000 after buying an additional 614,408 shares in the last quarter. BlackRock Inc. raised its stake in BP p.l.c. by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares in the last quarter. Morgan Stanley raised its position in BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after buying an additional 623,612 shares during the period. Russell Investments Group Ltd. raised its position in BP p.l.c. by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 4,169,463 shares of the oil and gas exploration company’s stock worth $143,927,000 after buying an additional 309,046 shares during the period. Finally, Sound Shore Management Inc. CT raised its position in BP p.l.c. by 8.1% in the first quarter. Sound Shore Management Inc. CT now owns 4,069,591 shares of the oil and gas exploration company’s stock worth $140,482,000 after buying an additional 303,382 shares during the period. 9.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of BP p.l.c. (NYSE BP) opened at 34.83 on Wednesday. The firm has a market cap of $114.15 billion, a P/E ratio of 51.83 and a beta of 0.94. The stock’s 50 day moving average is $35.23 and its 200-day moving average is $35.20. BP p.l.c. has a 52-week low of $32.50 and a 52-week high of $38.68.
BP p.l.c. (NYSE:BP) last released its quarterly earnings data on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. The business had revenue of $55.86 billion for the quarter, compared to analysts’ expectations of $59.87 billion. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. BP p.l.c.’s quarterly revenue was up 45.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Equities analysts anticipate that BP p.l.c. will post $1.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, May 12th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date of this dividend was Wednesday, May 10th. BP p.l.c.’s dividend payout ratio is presently 366.16%.
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A number of research firms have issued reports on BP. Vetr upgraded shares of BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 target price on the stock in a report on Monday, May 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of BP p.l.c. in a report on Monday, June 12th. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a report on Thursday, April 13th. Kepler Capital Markets lowered shares of BP p.l.c. from a “hold” rating to a “reduce” rating in a report on Friday, June 30th. Finally, Citigroup Inc. lowered shares of BP p.l.c. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.88 to $30.66 in a report on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. BP p.l.c. presently has a consensus rating of “Buy” and a consensus price target of $36.10.
BP p.l.c. Company Profile
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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