Pinnacle Wealth Planning Services Inc. purchased a new position in BP plc (NYSE:BP) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,091 shares of the oil and gas exploration company’s stock, valued at approximately $129,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stonehearth Capital Management LLC purchased a new position in BP during the 4th quarter valued at about $115,000. Itau Unibanco Holding S.A. grew its stake in BP by 121.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 2,740 shares of the oil and gas exploration company’s stock valued at $115,000 after acquiring an additional 1,502 shares in the last quarter. Cable Hill Partners LLC grew its stake 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 acquiring an additional 3,078 shares in the last quarter. Baystate Wealth Management LLC grew its stake in BP by 832.8% during the 4th quarter. Baystate Wealth Management LLC now owns 3,302 shares of the oil and gas exploration company’s stock valued at $143,000 after acquiring an additional 2,948 shares in the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new position in BP during the 3rd quarter valued at about $151,000. 10.05% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on BP. Piper Jaffray Companies reaffirmed a “buy” rating and set a $51.00 target price on shares of BP in a research note on Wednesday, January 24th. Zacks Investment Research raised BP from a “hold” rating to a “strong-buy” rating and set a $50.00 target price on the stock in a research note on Monday, January 29th. TheStreet raised BP from a “c” rating to a “b” rating in a research note on Wednesday, November 8th. Evercore ISI lifted their target price on BP from $43.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. Finally, Scotiabank reiterated a “buy” rating and set a $39.00 price target on shares of BP in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.82.
BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The firm had revenue of $67.82 billion for the quarter, compared to analyst estimates of $56.85 billion. BP had a net margin of 1.39% and a return on equity of 6.19%. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. sell-side analysts anticipate that BP plc will post 2.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 5.99%. BP’s dividend payout ratio is 233.34%.
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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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