Willis Investment Counsel Sells 198,355 Shares of BP p.l.c. (BP)
Willis Investment Counsel trimmed its holdings in shares of BP p.l.c. (NYSE:BP) by 38.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 316,455 shares of the oil and gas exploration company’s stock after selling 198,355 shares during the quarter. Willis Investment Counsel’s holdings in BP p.l.c. were worth $10,965,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in BP. Morgan Stanley lifted its holdings in BP p.l.c. by 11.2% during the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after purchasing an additional 623,612 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in BP p.l.c. by 3.8% during the first quarter. Stonebridge Capital Advisors LLC now owns 63,117 shares of the oil and gas exploration company’s stock valued at $2,179,000 after purchasing an additional 2,304 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in BP p.l.c. during the second quarter valued at approximately $10,896,000. Geneva Advisors LLC lifted its holdings in BP p.l.c. by 6.2% during the second quarter. Geneva Advisors LLC now owns 17,011 shares of the oil and gas exploration company’s stock valued at $589,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in BP p.l.c. by 45.0% during the first quarter. Sunbelt Securities Inc. now owns 8,760 shares of the oil and gas exploration company’s stock valued at $302,000 after purchasing an additional 2,718 shares in the last quarter. Institutional investors own 10.09% of the company’s stock.
Several equities analysts have weighed in on the stock. Scotiabank set a $37.00 price target on shares of BP p.l.c. and gave the company a “buy” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of BP p.l.c. from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of BP p.l.c. in a report on Monday, June 12th. Kepler Capital Markets downgraded shares of BP p.l.c. from a “hold” rating to a “reduce” rating in a report on Friday, June 30th. Finally, TheStreet downgraded shares of BP p.l.c. from a “b-” rating to a “c” rating in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.26.
BP p.l.c. (NYSE BP) traded up 0.597% during midday trading on Friday, reaching $37.925. 2,649,166 shares of the company were exchanged. The firm’s 50 day moving average price is $35.30 and its 200-day moving average price is $35.05. BP p.l.c. has a 52 week low of $32.53 and a 52 week high of $38.68. The stock has a market capitalization of $124.44 billion, a P/E ratio of 33.093 and a beta of 0.93.
BP p.l.c. (NYSE:BP) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.18). BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The company had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 21.7% on a year-over-year basis. Equities analysts forecast that BP p.l.c. will post $1.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be issued a dividend of $0.595 per share. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 annualized dividend and a dividend yield of 6.31%. BP p.l.c.’s dividend payout ratio is presently 206.96%.
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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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