Pennsylvania Trust Co Has $370,000 Position in BP plc (BP)
Pennsylvania Trust Co trimmed its stake in shares of BP plc (NYSE:BP) by 85.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,300 shares of the oil and gas exploration company’s stock after selling 30,642 shares during the period. Pennsylvania Trust Co’s holdings in BP were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of BP. Alliancebernstein L.P. grew its holdings in BP by 120.0% during the third quarter. Alliancebernstein L.P. now owns 9,965 shares of the oil and gas exploration company’s stock worth $459,000 after acquiring an additional 5,436 shares during the period. Mackenzie Financial Corp boosted its position in BP by 175.9% during the third quarter. Mackenzie Financial Corp now owns 38,700 shares of the oil and gas exploration company’s stock worth $1,784,000 after purchasing an additional 24,672 shares in the last quarter. Glenmede Trust Co. NA boosted its position in BP by 3.3% during the third quarter. Glenmede Trust Co. NA now owns 120,516 shares of the oil and gas exploration company’s stock worth $5,555,000 after purchasing an additional 3,855 shares in the last quarter. Teachers Advisors LLC boosted its position in BP by 12.2% during the third quarter. Teachers Advisors LLC now owns 266,593 shares of the oil and gas exploration company’s stock worth $12,290,000 after purchasing an additional 28,900 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in BP by 17.3% during the third quarter. TIAA CREF Investment Management LLC now owns 641,985 shares of the oil and gas exploration company’s stock worth $29,596,000 after purchasing an additional 94,500 shares in the last quarter. 10.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Deutsche Bank reiterated a “buy” rating on shares of BP in a research report on Thursday, March 7th. Royal Bank of Canada downgraded BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target on the stock. in a research report on Tuesday, April 16th. Finally, Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. BP currently has an average rating of “Buy” and a consensus price target of $55.13.
BP (NYSE:BP) last released its earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.27. The business had revenue of $75.68 billion for the quarter, compared to the consensus estimate of $78.78 billion. BP had a return on equity of 12.45% and a net margin of 3.09%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. On average, research analysts predict that BP plc will post 3.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, February 15th were given a $0.615 dividend. The ex-dividend date was Thursday, February 14th. This represents a $2.46 annualized dividend and a dividend yield of 5.54%. BP’s dividend payout ratio (DPR) is presently 64.21%.
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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