Greatmark Investment Partners Inc. lessened its stake in BP plc (NYSE:BP) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,293 shares of the oil and gas exploration company’s stock after selling 1,835 shares during the period. Greatmark Investment Partners Inc.’s holdings in BP were worth $2,243,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BP. FMR LLC raised its position in shares of BP by 22.6% in the 4th quarter. FMR LLC now owns 26,000,484 shares of the oil and gas exploration company’s stock worth $985,939,000 after acquiring an additional 4,797,414 shares in the last quarter. BlackRock Inc. grew its stake in shares of BP by 40.1% in the 4th quarter. BlackRock Inc. now owns 8,015,386 shares of the oil and gas exploration company’s stock worth $303,944,000 after buying an additional 2,292,327 shares during the last quarter. APG Asset Management N.V. boosted its stake in BP by 208.9% during the 4th quarter. APG Asset Management N.V. now owns 1,420,960 shares of the oil and gas exploration company’s stock valued at $47,135,000 after purchasing an additional 960,963 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in BP by 51.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,595,212 shares of the oil and gas exploration company’s stock valued at $98,411,000 after purchasing an additional 881,094 shares during the last quarter. Finally, Norges Bank purchased a new stake in BP during the 4th quarter valued at $32,149,000. 10.77% of the stock is owned by institutional investors.
Shares of BP opened at $42.34 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.61. BP plc has a 12 month low of $36.28 and a 12 month high of $47.83. The firm has a market cap of $141.55 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.615 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.46 annualized dividend and a yield of 5.81%. BP’s dividend payout ratio is 64.21%.
Several analysts have commented on BP shares. Deutsche Bank reiterated a “buy” rating on shares of BP in a research note on Thursday, March 7th. Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Royal Bank of Canada downgraded BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $55.41.
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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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