FineMark National Bank & Trust Sells 537 Shares of BP plc (BP)

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FineMark National Bank & Trust reduced its holdings in BP plc (NYSE:BP) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,321 shares of the oil and gas exploration company’s stock after selling 537 shares during the period. FineMark National Bank & Trust’s holdings in BP were worth $1,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in shares of BP by 31.7% in the 3rd quarter. FMR LLC now owns 21,203,070 shares of the oil and gas exploration company’s stock valued at $977,462,000 after purchasing an additional 5,099,444 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of BP by 31.6% in the 3rd quarter. Renaissance Technologies LLC now owns 11,921,446 shares of the oil and gas exploration company’s stock valued at $549,579,000 after purchasing an additional 2,863,902 shares during the last quarter. Morgan Stanley boosted its stake in shares of BP by 2.2% in the 3rd quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock valued at $383,594,000 after purchasing an additional 179,526 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of BP by 5.8% in the 4th quarter. Fisher Asset Management LLC now owns 7,775,905 shares of the oil and gas exploration company’s stock valued at $294,862,000 after purchasing an additional 422,915 shares during the last quarter. Finally, Sanders Capital LLC boosted its stake in shares of BP by 1.4% in the 4th quarter. Sanders Capital LLC now owns 6,480,223 shares of the oil and gas exploration company’s stock valued at $245,730,000 after purchasing an additional 91,200 shares during the last quarter. Hedge funds and other institutional investors own 11.09% of the company’s stock.

A number of equities research analysts have recently commented on BP shares. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of BP in a research note on Tuesday, October 23rd. Zacks Investment Research lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Raymond James raised shares of BP from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 20th. They noted that the move was a valuation call. Finally, Wells Fargo & Co started coverage on shares of BP in a research note on Tuesday, December 18th. They issued a “market perform” rating and a $41.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $51.79.

Shares of NYSE BP opened at $42.29 on Monday. The firm has a market cap of $141.38 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.84 and a beta of 0.82. BP plc has a 12-month low of $36.28 and a 12-month high of $47.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.04.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.27. The business had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. BP had a net margin of 3.09% and a return on equity of 12.45%. BP’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. Equities research analysts predict that BP plc will post 3.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 15th will be paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 5.82%. The ex-dividend date is Thursday, February 14th. BP’s dividend payout ratio is presently 64.21%.

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About BP

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).

Read More: What does earnings per share mean?

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).

Institutional Ownership by Quarter for BP (NYSE:BP)

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