Palouse Capital Management Inc. boosted its stake in BP PLC (NYSE:BP) by 221.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,730 shares of the oil and gas exploration company’s stock after buying an additional 124,489 shares during the period. BP PLC makes up approximately 2.6% of Palouse Capital Management Inc.’s portfolio, making the stock its 6th largest position. Palouse Capital Management Inc.’s holdings in BP PLC were worth $6,418,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in BP PLC during the fourth quarter valued at about $12,118,000. First Manhattan Co. raised its stake in BP PLC by 3.0% in the first quarter. First Manhattan Co. now owns 38,356 shares of the oil and gas exploration company’s stock valued at $1,157,000 after buying an additional 1,124 shares in the last quarter. Sii Investments Inc. WI raised its stake in BP PLC by 8.3% in the first quarter. Sii Investments Inc. WI now owns 97,646 shares of the oil and gas exploration company’s stock valued at $2,942,000 after buying an additional 7,491 shares in the last quarter. Sanders Morris Harris Inc. purchased a new stake in BP PLC during the first quarter valued at about $446,000. Finally, Aperio Group LLC raised its stake in BP PLC by 18.0% in the first quarter. Aperio Group LLC now owns 506,456 shares of the oil and gas exploration company’s stock valued at $15,285,000 after buying an additional 77,138 shares in the last quarter. 12.06% of the stock is owned by institutional investors.
BP PLC (NYSE:BP) traded down 0.82% during mid-day trading on Monday, hitting $33.68. The stock had a trading volume of 4,579,521 shares. BP PLC has a one year low of $27.01 and a one year high of $37.53. The company’s market cap is $105.40 billion. The firm’s 50-day moving average price is $33.94 and its 200 day moving average price is $32.87.
BP PLC (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The business had revenue of $46.44 billion for the quarter, compared to the consensus estimate of $50.22 billion. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was down 25.7% compared to the same quarter last year. On average, equities research analysts anticipate that BP PLC will post $1.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a yield of 7.07%. BP PLC’s dividend payout ratio (DPR) is presently -139.18%.
BP has been the subject of several analyst reports. Vetr raised shares of BP PLC from a “hold” rating to a “buy” rating and set a $33.58 target price for the company in a report on Tuesday, May 31st. Morgan Stanley reissued a “neutral” rating on shares of BP PLC in a report on Monday, June 13th. Citigroup Inc. raised shares of BP PLC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.15 to $39.00 in a report on Thursday, June 16th. Finally, Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.63.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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