SignalPoint Asset Management LLC Lowers Stake in BP PLC (BP)
SignalPoint Asset Management LLC decreased its stake in shares of BP PLC (NYSE:BP) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,977 shares of the oil and gas exploration company’s stock after selling 5 shares during the period. SignalPoint Asset Management LLC’s holdings in BP PLC were worth $319,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of BP. Bank of Montreal Can acquired a new position in BP PLC during the second quarter valued at $257,496,000. Acadian Asset Management LLC boosted its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of BP PLC by 226.5% in the first quarter. Renaissance Technologies LLC now owns 979,700 shares of the oil and gas exploration company’s stock valued at $29,567,000 after buying an additional 679,600 shares during the last quarter. Seminole Management Co. Inc. boosted its position in shares of BP PLC by 82.1% in the second quarter. Seminole Management Co. Inc. now owns 1,310,369 shares of the oil and gas exploration company’s stock valued at $46,531,000 after buying an additional 590,690 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in shares of BP PLC by 80.4% in the second quarter. GW&K Investment Management LLC now owns 920,581 shares of the oil and gas exploration company’s stock valued at $32,690,000 after buying an additional 410,174 shares during the last quarter. Institutional investors own 12.06% of the company’s stock.
Shares of BP PLC (NYSE:BP) traded up 0.98% during midday trading on Wednesday, hitting $36.03. 5,394,479 shares of the stock traded hands. BP PLC has a 12-month low of $27.01 and a 12-month high of $37.53. The firm’s 50 day moving average price is $34.22 and its 200 day moving average price is $33.13. The company’s market capitalization is $112.76 billion.
BP PLC (NYSE:BP) last released its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm 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 EPS. The company’s revenue was down 25.7% compared to the same quarter last year. Analysts expect that BP PLC will post $1.10 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s dividend payout ratio (DPR) is currently -139.18%.
Several research analysts have commented on BP shares. Vetr upgraded shares of BP PLC from a “hold” rating to a “buy” rating and set a $33.74 target price for the company in a report on Monday, June 13th. Morgan Stanley reiterated a “neutral” rating on shares of BP PLC in a report on Monday, June 13th. Citigroup Inc. upgraded shares of BP PLC from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.15 to $39.00 in a report on Thursday, June 16th. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. Finally, Credit Suisse Group AG raised shares of BP PLC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.63.
About BP PLC
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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