Quantbot Technologies LP Invests $1.35 Million in BP p.l.c. $BP

Quantbot Technologies LP bought a new position in shares of BP p.l.c. (NYSE:BP) in the third quarter, Holdings Channel reports. The firm bought 39,237 shares of the oil and gas exploration company’s stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heartwood Wealth Advisors LLC bought a new stake in BP in the third quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in BP in the second quarter worth $27,000. WFA of San Diego LLC acquired a new position in shares of BP in the 2nd quarter valued at $46,000. Quent Capital LLC bought a new stake in shares of BP in the 3rd quarter valued at $47,000. Finally, Root Financial Partners LLC bought a new position in BP during the third quarter worth about $53,000. 11.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America lowered BP from a “neutral” rating to an “underperform” rating in a research report on Friday, December 5th. Jefferies Financial Group reiterated a “hold” rating on shares of BP in a report on Thursday, January 8th. Piper Sandler raised their target price on shares of BP from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Melius Research cut shares of BP from a “buy” rating to a “sell” rating and set a $31.00 price target on the stock. in a research report on Wednesday, February 11th. Finally, Wall Street Zen downgraded BP from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.35.

BP Stock Performance

Shares of BP stock opened at $39.31 on Friday. The company has a fifty day moving average price of $36.91 and a two-hundred day moving average price of $35.61. BP p.l.c. has a one year low of $25.22 and a one year high of $39.56. The stock has a market cap of $103.07 billion, a P/E ratio of -3,927.07, a P/E/G ratio of 1.79 and a beta of 0.31. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 0.98.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $10.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $9.43. BP had a net margin of 0.03% and a return on equity of 9.68%. The company had revenue of $47.38 billion for the quarter, compared to analysts’ expectations of $42.19 billion. During the same period in the prior year, the firm earned $0.44 EPS. BP’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that BP p.l.c. will post 3.53 EPS for the current year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.4992 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. BP’s payout ratio is presently -19,700.00%.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.