BP p.l.c. (BP) Shares Bought by Lehman Financial Resources Inc.
Lehman Financial Resources Inc. lifted its holdings in shares of BP p.l.c. (NYSE:BP) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 140,843 shares of the oil and gas exploration company’s stock after purchasing an additional 5,215 shares during the period. BP p.l.c. accounts for about 2.8% of Lehman Financial Resources Inc.’s portfolio, making the stock its 11th largest position. Lehman Financial Resources Inc.’s holdings in BP p.l.c. were worth $4,909,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of BP p.l.c. by 16,222.8% during the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after acquiring an additional 11,731,496 shares during the period. Morgan Stanley lifted its stake in shares of 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 acquiring an additional 623,612 shares during the period. State Street Corp lifted its stake in shares of BP p.l.c. by 2.0% during the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock valued at $1,074,889,000 after acquiring an additional 614,408 shares during the period. Karp Capital Management Corp acquired a new position in shares of BP p.l.c. during the first quarter valued at $17,013,000. Finally, Global Financial Private Capital LLC acquired a new position in shares of BP p.l.c. during the first quarter valued at $16,192,000. Institutional investors own 10.09% of the company’s stock.
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BP p.l.c. (BP) traded up 0.32% during midday trading on Friday, hitting $37.82. The stock had a trading volume of 5,581,451 shares. 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 $124.09 billion, a price-to-earnings ratio of 33.00 and a beta of 0.93. The company’s 50 day moving average price is $35.30 and its 200-day moving average price is $35.05.
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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.18). The business had revenue of $56.51 billion during the quarter, compared to analyst estimates of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities analysts anticipate that BP p.l.c. will post $1.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, August 11th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend was Wednesday, August 9th. BP p.l.c.’s dividend payout ratio is 206.96%.
Several equities analysts have recently issued reports on BP shares. Argus upped their price target on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, June 1st. TheStreet raised BP p.l.c. from a “c” rating to a “b-” rating in a research note on Tuesday, May 30th. Zacks Investment Research raised BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Morgan Stanley reaffirmed a “buy” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Four 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. The company presently has a consensus rating of “Hold” and a consensus target price of $36.26.
About BP p.l.c.
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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