Rockland Trust Co. Has $207,000 Position in BP p.l.c. (BP)
Rockland Trust Co. held its stake in BP p.l.c. (NYSE:BP) during the second quarter, Holdings Channel reports. The fund owned 5,976 shares of the oil and gas exploration company’s stock at the end of the second quarter. Rockland Trust Co.’s holdings in BP p.l.c. were worth $207,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its position in BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in BP p.l.c. during the first quarter valued at approximately $106,000. Crestwood Advisors Group LLC purchased a new position in BP p.l.c. during the first quarter valued at approximately $114,000. Pictet North America Advisors SA purchased a new position in BP p.l.c. during the first quarter valued at approximately $128,000. Finally, IHT Wealth Management LLC raised its position in BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after buying an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 9.95% of the company’s stock.
Shares of BP p.l.c. (NYSE BP) opened at 36.16 on Thursday. The firm has a market capitalization of $118.96 billion, a P/E ratio of 31.55 and a beta of 0.94. The firm has a 50-day moving average of $35.11 and a 200-day moving average of $35.02. BP p.l.c. has a one year low of $32.53 and a one year high of $38.68. BP p.l.c. also was the recipient of unusually large options trading on Tuesday. Investors bought 67,515 call options on the company. This represents an increase of 974% compared to the typical volume of 6,286 call options.
BP p.l.c. (NYSE:BP) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.18. The firm had revenue of $56.51 billion during the quarter, compared to analyst estimates of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. BP p.l.c.’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. On average, equities analysts predict that BP p.l.c. will post $1.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, August 11th will be given a $0.595 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a yield of 6.58%. BP p.l.c.’s payout ratio is 206.96%.
Several equities analysts have recently commented on BP shares. BidaskClub upgraded shares of BP p.l.c. from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Societe Generale lowered shares of BP p.l.c. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $35.04 to $34.90 in a research report on Wednesday, July 26th. Finally, Simmons upped their price target on shares of BP p.l.c. from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $36.51.
BP p.l.c. Company Profile
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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