Vanguard Capital Wealth Advisors acquired a new position in BP plc (NYSE:BP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,446 shares of the oil and gas exploration company’s stock, valued at approximately $204,000.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in BP by 1,375.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock worth $135,000 after buying an additional 2,750 shares during the last quarter. Clarus Wealth Advisors acquired a new position in BP during the second quarter valued at approximately $165,000. Destination Wealth Management grew its holdings in BP by 2,782.4% during the second quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock valued at $187,000 after purchasing an additional 3,951 shares during the last quarter. Wall Street Access Asset Management LLC acquired a new position in BP during the third quarter valued at approximately $201,000. Finally, Foundation Resource Management Inc. acquired a new position in BP during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.
Several equities analysts have commented on BP shares. Zacks Investment Research downgraded BP from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Goldman Sachs Group upgraded BP from a “buy” rating to a “conviction-buy” rating in a report on Thursday, August 9th. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Wednesday, October 3rd. HSBC raised BP to a “buy” rating in a research report on Monday, July 30th. Finally, Royal Bank of Canada raised BP from an “outperform” rating to a “top pick” rating in a research report on Monday, July 9th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $51.84.
BP (NYSE:BP) last issued its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $75.44 billion during the quarter, compared to analysts’ expectations of $82.25 billion. BP had a return on equity of 9.28% and a net margin of 2.55%. BP’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. Equities research analysts anticipate that BP plc will post 3.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 21st were given a $0.615 dividend. The ex-dividend date was Friday, September 21st. This represents a $2.46 annualized dividend and a yield of 5.59%. BP’s dividend payout ratio (DPR) is currently 129.79%.
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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