Edge Wealth Management LLC cut its holdings in BP plc (NYSE:BP) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,975 shares of the oil and gas exploration company’s stock after selling 12,176 shares during the period. BP comprises 3.6% of Edge Wealth Management LLC’s holdings, making the stock its 6th largest holding. Edge Wealth Management LLC’s holdings in BP were worth $12,767,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Stonehearth Capital Management LLC bought a new position in BP during the 4th quarter valued at about $115,000. Cable Hill Partners LLC grew its holdings in BP by 639.9% during the 3rd quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock valued at $137,000 after purchasing an additional 3,078 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in BP during the 3rd quarter valued at about $151,000. Country Trust Bank grew its holdings in BP by 228.5% during the 4th quarter. Country Trust Bank now owns 3,758 shares of the oil and gas exploration company’s stock valued at $158,000 after purchasing an additional 2,614 shares during the last quarter. Finally, Davis R M Inc. bought a new position in BP during the 4th quarter valued at about $205,000. Hedge funds and other institutional investors own 9.94% of the company’s stock.
BP plc (NYSE BP) opened at $42.88 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 0.88. The company has a market cap of $140,528.58, a PE ratio of 36.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97. BP plc has a one year low of $33.10 and a one year high of $43.99.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, November 10th were paid a $0.60 dividend. This is an increase from BP’s previous quarterly dividend of $0.60. This represents a $2.40 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend was Thursday, November 9th. BP’s dividend payout ratio is currently 203.42%.
Several brokerages recently commented on BP. Vetr downgraded shares of BP from a “buy” rating to a “hold” rating and set a $40.67 price target on the stock. in a report on Monday, October 30th. Zacks Investment Research downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a report on Wednesday, November 8th. Evercore ISI upped their price target on shares of BP from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $39.00 price target on shares of BP in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. BP has an average rating of “Hold” and a consensus target price of $38.63.
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BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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