Patton Albertson Miller Group LLC decreased its stake in BP p.l.c. (NYSE:BP) by 27.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,451 shares of the oil and gas exploration company’s stock after selling 2,439 shares during the period. Patton Albertson Miller Group LLC’s holdings in BP p.l.c. were worth $231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of BP p.l.c. during the fourth quarter valued at approximately $15,632,000. UBS Asset Management Americas Inc. bought a new stake in shares of BP p.l.c. during the fourth quarter valued at approximately $151,000. Carroll Financial Associates Inc. increased its stake in shares of BP p.l.c. by 37.0% in the first quarter. Carroll Financial Associates Inc. now owns 6,255 shares of the oil and gas exploration company’s stock valued at $215,000 after buying an additional 1,690 shares during the last quarter. Highland Capital Management LLC increased its stake in shares of BP p.l.c. by 63.4% in the first quarter. Highland Capital Management LLC now owns 67,666 shares of the oil and gas exploration company’s stock valued at $2,336,000 after buying an additional 26,250 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in shares of BP p.l.c. by 17.0% in the first quarter. Gradient Investments LLC now owns 30,389 shares of the oil and gas exploration company’s stock valued at $1,049,000 after buying an additional 4,421 shares during the last quarter. Institutional investors own 9.95% of the company’s stock.

BP p.l.c. (NYSE BP) opened at 34.94 on Friday. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $38.68. The firm has a market capitalization of $114.94 billion, a PE ratio of 30.49 and a beta of 0.94. The company’s 50-day moving average is $35.15 and its 200-day moving average is $35.01.

BP p.l.c. (NYSE:BP) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.18. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The company had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts forecast that BP p.l.c. will post $1.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 annualized dividend and a yield of 6.81%. BP p.l.c.’s payout ratio is presently 206.96%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/12/bp-p-l-c-nysebp-stake-decreased-by-patton-albertson-miller-group-llc.html.

BP has been the subject of several research analyst reports. Citigroup Inc. downgraded shares of BP p.l.c. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.88 to $30.66 in a report on Wednesday, April 19th. Simmons boosted their price objective on shares of BP p.l.c. from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Vetr downgraded shares of BP p.l.c. from a “buy” rating to a “hold” rating and set a $33.35 price objective for the company. in a report on Monday, May 1st. Jefferies Group LLC set a $36.00 price objective on shares of BP p.l.c. and gave the company a “hold” rating in a report on Wednesday, May 17th. Finally, Argus boosted their price objective on shares of BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. BP p.l.c. presently 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.

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

Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

Receive News & Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related companies with MarketBeat.com's FREE daily email newsletter.