B. Riley Wealth Management Inc. purchased 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. The fund purchased 7,557 shares of the oil and gas exploration company’s stock, valued at approximately $348,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Smith Asset Management Group LP lifted its position in shares of BP by 13.8% during the 2nd quarter. Smith Asset Management Group LP now owns 27,950 shares of the oil and gas exploration company’s stock valued at $1,276,000 after acquiring an additional 3,380 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of BP by 24.6% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 32,696 shares of the oil and gas exploration company’s stock valued at $1,493,000 after acquiring an additional 6,452 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of BP by 30.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 24,364 shares of the oil and gas exploration company’s stock valued at $1,112,000 after acquiring an additional 5,752 shares during the period. Private Advisor Group LLC lifted its position in shares of BP by 75.3% during the 2nd quarter. Private Advisor Group LLC now owns 83,589 shares of the oil and gas exploration company’s stock valued at $3,783,000 after acquiring an additional 35,893 shares during the period. Finally, Reynders McVeigh Capital Management LLC acquired a new position in shares of BP during the 2nd quarter valued at $228,000. Hedge funds and other institutional investors own 11.16% of the company’s stock.
A number of research firms recently issued reports on BP. Berenberg Bank began coverage on shares of BP in a research report on Tuesday, September 11th. They set a “buy” rating on the stock. Redburn Partners upgraded shares of BP from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, October 3rd. Piper Jaffray Companies reiterated an “overweight” rating on shares of BP in a research report on Tuesday, October 23rd. Wells Fargo & Co began coverage on shares of BP in a research report on Tuesday. They set a “market perform” rating and a $41.00 target price on the stock. Finally, Santander upgraded shares of BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $51.69.
Shares of BP stock opened at $37.26 on Friday. The firm has a market cap of $126.44 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.22 and a quick ratio of 0.91. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83.
BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.29. The business had revenue of $79.47 billion during the quarter, compared to analyst estimates of $75.31 billion. BP had a net margin of 2.91% and a return on equity of 11.14%. BP’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. Analysts forecast that BP plc will post 3.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be paid a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a yield of 6.60%. BP’s dividend payout ratio (DPR) is presently 129.79%.
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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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