Brown Advisory Inc. Increases Stake in BP PLC (BP)
Brown Advisory Inc. raised its position in BP PLC (NYSE:BP) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 60,421 shares of the oil and gas exploration company’s stock after buying an additional 5,169 shares during the period. Brown Advisory Inc.’s holdings in BP PLC were worth $2,146,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Washington Trust Bank raised its stake in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares in the last quarter. Iowa State Bank purchased a new stake in BP PLC during the second quarter valued at approximately $159,000. Quadrant Capital Group LLC raised its stake in BP PLC by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 4,542 shares of the oil and gas exploration company’s stock valued at $151,000 after buying an additional 217 shares in the last quarter. Finally, Commonwealth Financial Services LLC raised its stake in BP PLC by 6.1% in the second quarter. Commonwealth Financial Services LLC now owns 4,894 shares of the oil and gas exploration company’s stock valued at $174,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 12.06% of the company’s stock.
Shares of BP PLC (NYSE:BP) traded down 0.161% during midday trading on Friday, hitting $34.205. 1,339,345 shares of the company’s stock were exchanged. The firm’s market cap is $107.05 billion. The stock’s 50-day moving average price is $33.92 and its 200 day moving average price is $32.86. BP PLC has a one year low of $27.01 and a one year high of $37.53.
BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $46.44 billion for the quarter, compared to analyst estimates of $50.22 billion. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was down 25.7% compared to the same quarter last year. Equities research analysts forecast that BP PLC will post $1.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were paid a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.95%. BP PLC’s dividend payout ratio (DPR) is presently -139.18%.
Several research firms recently commented on BP. Credit Suisse Group AG upgraded shares of BP PLC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, July 5th. Vetr lowered shares of BP PLC from a “buy” rating to a “hold” rating and set a $36.40 target price on the stock. in a research report on Monday, July 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP PLC in a research report on Thursday, July 21st. Jefferies Group lifted their target price on shares of BP PLC from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, July 11th. Finally, Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. BP PLC currently has a consensus rating of “Buy” and a consensus target price 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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