Donaldson Capital Management LLC Invests $205,000 in BP plc (NYSE:BP)

Donaldson Capital Management LLC acquired a new position in shares of BP plc (NYSE:BP) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,687 shares of the oil and gas exploration company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BP. FMR LLC boosted its holdings in 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 worth $985,939,000 after purchasing an additional 4,797,414 shares during the period. Renaissance Technologies LLC lifted its stake in BP by 31.6% in the third quarter. Renaissance Technologies LLC now owns 11,921,446 shares of the oil and gas exploration company’s stock valued at $549,579,000 after buying an additional 2,863,902 shares during the last quarter. Bank of America Corp DE lifted its stake in BP by 1.5% in the fourth quarter. Bank of America Corp DE now owns 10,395,325 shares of the oil and gas exploration company’s stock valued at $394,191,000 after buying an additional 152,503 shares during the last quarter. Morgan Stanley lifted its stake in BP by 2.2% in the third quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock valued at $383,594,000 after buying an additional 179,526 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in 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 buying an additional 2,292,327 shares during the last quarter. Hedge funds and other institutional investors own 10.80% of the company’s stock.

Shares of NYSE BP traded down $0.89 during midday trading on Wednesday, reaching $44.13. 5,656,577 shares of the company traded hands, compared to its average volume of 5,348,251. BP plc has a 52 week low of $36.28 and a 52 week high of $47.83. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. The stock has a market cap of $148.35 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.92 and a beta of 0.80.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.27. BP had a net margin of 3.09% and a return on equity of 12.45%. The business had revenue of $75.68 billion for the quarter, compared to analysts’ expectations of $78.78 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that BP plc will post 3.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, February 15th were given a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend was Thursday, February 14th. BP’s dividend payout ratio (DPR) is presently 64.21%.

A number of research firms have issued reports on BP. Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research note on Tuesday, April 16th. Deutsche Bank reiterated a “buy” rating on shares of BP in a research note on Thursday, March 7th. Finally, Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.41.

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About BP

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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