BP p.l.c. (BP) Shares Sold by Indiana Trust & Investment Management CO
Indiana Trust & Investment Management CO cut its holdings in shares of BP p.l.c. (NYSE:BP) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,373 shares of the oil and gas exploration company’s stock after selling 1,620 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in BP p.l.c. were worth $322,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Morgan Stanley lifted its holdings 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 worth $213,544,000 after buying an additional 623,612 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of BP p.l.c. by 3.8% in 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. acquired a new position in shares of BP p.l.c. in the second quarter valued at $10,896,000. Geneva Advisors LLC raised its stake in shares of BP p.l.c. by 6.2% in 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, Atlantic Trust Group LLC raised its stake in shares of BP p.l.c. by 24.5% in the second quarter. Atlantic Trust Group LLC now owns 57,428 shares of the oil and gas exploration company’s stock valued at $1,991,000 after purchasing an additional 11,295 shares in the last quarter. Institutional investors own 10.06% of the company’s stock.
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Shares of BP p.l.c. (NYSE:BP) traded down 0.452% during mid-day trading on Wednesday, reaching $38.515. The company’s stock had a trading volume of 1,853,646 shares. The firm has a market cap of $126.37 billion, a price-to-earnings ratio of 33.608 and a beta of 0.95. The firm has a 50 day moving average price of $37.01 and a 200 day moving average price of $35.63. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $39.48.
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 for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). The company 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%. BP p.l.c.’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities analysts predict that BP p.l.c. will post $1.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, August 11th were issued a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $2.38 annualized dividend and a yield of 6.15%. BP p.l.c.’s dividend payout ratio is presently 206.96%.
A number of brokerages recently commented on BP. Macquarie lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Bank of America Corporation lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Friday, June 30th. Societe Generale lowered BP p.l.c. from a “buy” rating to a “hold” rating and cut their target price for the company from $35.04 to $34.90 in a research note on Wednesday, July 26th. TheStreet lowered BP p.l.c. from a “b-” rating to a “c” rating in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies upgraded BP p.l.c. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $36.33 to $42.00 in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.09.
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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