Hanson McClain Inc. Raises Stake in BP plc (BP)

Hanson McClain Inc. grew its position in BP plc (NYSE:BP) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,209 shares of the oil and gas exploration company’s stock after purchasing an additional 512 shares during the period. Hanson McClain Inc.’s holdings in BP were worth $271,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BP. FMR LLC lifted its holdings in shares of BP by 22.6% in the fourth quarter. FMR LLC now owns 26,000,484 shares of the oil and gas exploration company’s stock valued at $985,939,000 after purchasing an additional 4,797,414 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of BP by 40.1% in the fourth quarter. BlackRock Inc. now owns 8,015,386 shares of the oil and gas exploration company’s stock valued at $303,944,000 after purchasing an additional 2,292,327 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of BP by 208.9% in the fourth quarter. APG Asset Management N.V. now owns 1,420,960 shares of the oil and gas exploration company’s stock valued at $47,135,000 after purchasing an additional 960,963 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of BP by 51.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,595,212 shares of the oil and gas exploration company’s stock valued at $98,411,000 after purchasing an additional 881,094 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BP in the fourth quarter valued at about $32,149,000. Institutional investors own 10.77% of the company’s stock.

Several analysts recently issued reports 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 lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $55.41.

BP opened at $42.28 on Friday. BP plc has a 52-week low of $36.28 and a 52-week high of $47.83. The stock has a market cap of $139.64 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02.

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 the consensus estimate of $0.68 by $0.02. BP had a return on equity of 12.19% and a net margin of 3.26%. The business had revenue of $66.32 billion for the quarter, compared to analyst estimates of $64.85 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. BP’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that BP plc will post 3.39 EPS for the current year.

The business 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. The ex-dividend date is Thursday, May 9th. This represents a $2.46 annualized dividend and a yield of 5.82%. BP’s payout ratio is presently 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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