Nikko Asset Management Americas Inc. lessened its stake in BP plc (NYSE:BP) by 15.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,323 shares of the oil and gas exploration company’s stock after selling 64,022 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in BP were worth $16,847,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of BP by 88.5% during the second quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock worth $735,292,000 after purchasing an additional 7,562,842 shares during the last quarter. Millennium Management LLC lifted its stake in shares of BP by 377.1% in the second quarter. Millennium Management LLC now owns 2,937,845 shares of the oil and gas exploration company’s stock worth $134,142,000 after acquiring an additional 2,322,118 shares during the period. Renaissance Technologies LLC lifted its stake in shares of BP by 23.4% in the second quarter. Renaissance Technologies LLC now owns 9,057,544 shares of the oil and gas exploration company’s stock worth $413,567,000 after acquiring an additional 1,714,700 shares during the period. BlueMountain Capital Management LLC acquired a new position in BP in the second quarter valued at approximately $64,175,000. Finally, BlackRock Inc. lifted its stake in BP by 27.5% in the second quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after buying an additional 1,191,854 shares during the period. 10.93% of the stock is owned by institutional investors and hedge funds.
Shares of BP stock opened at $42.66 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 1.22. The stock has a market cap of $138.35 billion, a PE ratio of 22.69, a PEG ratio of 0.66 and a beta of 0.85. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.86 by $0.29. BP had a return on equity of 11.14% and a net margin of 2.91%. The firm had revenue of $79.47 billion for the quarter, compared to analyst estimates of $75.31 billion. During the same period in the prior year, the company earned $0.09 EPS. The company’s revenue was up 32.4% on a year-over-year basis. Research analysts forecast that BP plc will post 3.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 9th will be given a dividend of $0.615 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.46 annualized dividend and a yield of 5.77%. BP’s payout ratio is 129.79%.
BP has been the topic of several recent analyst reports. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Wednesday, October 3rd. Berenberg Bank started coverage on BP in a research report on Tuesday, September 11th. They set a “buy” rating on the stock. HSBC raised BP to a “buy” rating in a research report on Monday, July 30th. Goldman Sachs Group raised BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Finally, ValuEngine downgraded BP from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $54.22.
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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