US Bancorp DE increased its position in shares of BP plc (NYSE:BP) by 2.6% during the 1st quarter, HoldingsChannel reports. The fund owned 1,160,651 shares of the oil and gas exploration company’s stock after acquiring an additional 29,157 shares during the period. US Bancorp DE’s holdings in BP were worth $50,744,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BP. HighPoint Advisor Group LLC raised its position in BP by 0.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 64,748 shares of the oil and gas exploration company’s stock valued at $2,733,000 after purchasing an additional 305 shares in the last quarter. Strategy Asset Managers LLC purchased a new position in shares of BP in the 1st quarter valued at about $120,000. Griffin Asset Management Inc. purchased a new position in shares of BP in the 1st quarter valued at about $251,000. Keybank National Association OH increased its holdings in shares of BP by 7.2% in the 1st quarter. Keybank National Association OH now owns 189,972 shares of the oil and gas exploration company’s stock valued at $8,306,000 after acquiring an additional 12,788 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of BP by 3.5% in the 1st quarter. Foster & Motley Inc. now owns 11,348 shares of the oil and gas exploration company’s stock valued at $496,000 after acquiring an additional 384 shares during the last quarter. 10.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on BP shares. Zacks Investment Research downgraded BP from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Deutsche Bank reiterated a “buy” rating on shares of BP in a report on Thursday, March 7th. Finally, Royal Bank of Canada downgraded BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective on the stock. in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.41.
BP (NYSE:BP) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $64.85 billion. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, analysts predict that BP plc will post 3.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be paid a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a yield of 5.74%. BP’s dividend payout ratio is presently 64.21%.
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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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