Virtus Fund Advisers LLC bought a new stake in BP plc (NYSE:BP) during the fourth quarter, HoldingsChannel reports. The firm bought 1,698,925 shares of the oil and gas exploration company’s stock, valued at approximately $71,406,000.
Several other institutional investors also recently modified their holdings of BP. Acadian Asset Management LLC raised its stake in shares of BP by 17.3% in the 4th quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock valued at $270,881,000 after purchasing an additional 950,489 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of BP by 15.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,727,733 shares of the oil and gas exploration company’s stock valued at $197,908,000 after purchasing an additional 641,751 shares in the last quarter. Jennison Associates LLC raised its stake in shares of BP by 187.1% in the 4th quarter. Jennison Associates LLC now owns 809,211 shares of the oil and gas exploration company’s stock valued at $34,011,000 after purchasing an additional 527,384 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in BP by 21.9% during the fourth quarter. Rockefeller Financial Services Inc. now owns 2,652,046 shares of the oil and gas exploration company’s stock worth $111,466,000 after acquiring an additional 477,072 shares during the period. Finally, James Investment Research Inc. raised its stake in BP by 424.7% during the fourth quarter. James Investment Research Inc. now owns 287,348 shares of the oil and gas exploration company’s stock worth $12,077,000 after acquiring an additional 232,588 shares during the period. Institutional investors and hedge funds own 10.02% of the company’s stock.
Several equities research analysts recently weighed in on BP shares. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, November 7th. Vetr upgraded shares of BP from a “hold” rating to a “buy” rating and set a $40.48 price target on the stock in a research note on Friday, November 17th. Evercore ISI raised their price target on shares of BP from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. Piper Jaffray Companies restated a “buy” rating and issued a $51.00 price target on shares of BP in a research note on Wednesday, January 24th. Finally, Cowen restated a “hold” rating and issued a $39.00 price target on shares of BP in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.05.
Shares of BP plc (BP) opened at $39.62 on Friday. BP plc has a 12-month low of $33.10 and a 12-month high of $44.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a market cap of $132,470.00, a P/E ratio of 38.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92.
BP (NYSE:BP) last released its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). BP had a return on equity of 6.19% and a net margin of 1.39%. The company had revenue of $67.82 billion during the quarter, compared to analysts’ expectations of $56.85 billion. During the same quarter in the previous year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. equities analysts expect that BP plc will post 2.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.06%. BP’s dividend payout ratio is currently 231.07%.
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BP 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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