Euro Pacific Asset Management LLC Has $11.91 Million Position in BP p.l.c. (NYSE:BP)

Euro Pacific Asset Management LLC cut its holdings in shares of BP p.l.c. (NYSE:BP) by 0.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 375,889 shares of the oil and gas exploration company’s stock after selling 3,148 shares during the quarter. BP comprises about 2.2% of Euro Pacific Asset Management LLC’s holdings, making the stock its 18th largest position. Euro Pacific Asset Management LLC’s holdings in BP were worth $11,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Altrius Capital Management Inc boosted its holdings in BP by 9.9% in the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock valued at $7,338,000 after acquiring an additional 20,976 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of BP in the 2nd quarter valued at $2,620,000. LRI Investments LLC acquired a new stake in shares of BP during the first quarter worth $32,000. Kornitzer Capital Management Inc. KS lifted its holdings in BP by 4.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 431,655 shares of the oil and gas exploration company’s stock valued at $15,583,000 after buying an additional 19,140 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in BP by 93.4% during the second quarter. AdvisorNet Financial Inc now owns 16,070 shares of the oil and gas exploration company’s stock valued at $580,000 after acquiring an additional 7,761 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BP shares. Scotiabank downgraded BP from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $42.00 to $36.00 in a research note on Thursday, October 10th. Hsbc Global Res upgraded BP to a “hold” rating in a research note on Thursday, August 8th. Barclays raised BP to a “strong-buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada downgraded BP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 7th. Finally, BNP Paribas cut BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, BP currently has a consensus rating of “Moderate Buy” and an average price target of $42.73.

BP Stock Down 0.2 %

BP opened at $28.98 on Friday. The company’s 50-day moving average price is $31.14 and its two-hundred day moving average price is $34.01. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. BP p.l.c. has a twelve month low of $27.82 and a twelve month high of $40.40. The stock has a market cap of $78.61 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.94 and a beta of 0.65.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. BP’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. As a group, equities analysts expect that BP p.l.c. will post 3.68 earnings per share for the current year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 8th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 6.63%. The ex-dividend date is Friday, November 8th. BP’s payout ratio is 200.00%.

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.