Davis R M Inc. Takes $205,000 Position in BP plc (BP)
Davis R M Inc. purchased a new position in BP plc (NYSE:BP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,887 shares of the oil and gas exploration company’s stock, valued at approximately $205,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BP. Parametric Portfolio Associates LLC grew its stake in shares of BP by 13.3% in the second quarter. Parametric Portfolio Associates LLC now owns 2,883,066 shares of the oil and gas exploration company’s stock worth $99,898,000 after acquiring an additional 338,581 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of BP by 6.2% in the third quarter. Russell Investments Group Ltd. now owns 4,085,982 shares of the oil and gas exploration company’s stock worth $157,009,000 after acquiring an additional 240,212 shares during the last quarter. TIAA FSB purchased a new stake in shares of BP in the second quarter worth $3,264,000. Edge Wealth Management LLC grew its stake in shares of BP by 40.4% in the third quarter. Edge Wealth Management LLC now owns 315,151 shares of the oil and gas exploration company’s stock worth $12,111,000 after acquiring an additional 90,622 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of BP by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after acquiring an additional 61,668 shares during the last quarter. 9.94% of the stock is currently owned by hedge funds and other institutional investors.
BP plc (BP) opened at $42.88 on Thursday. BP plc has a 1-year low of $33.10 and a 1-year high of $43.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market capitalization of $140,528.58, a PE ratio of 36.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.97.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, November 10th were issued a $0.60 dividend. This is an increase from BP’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, November 9th. This represents a $2.40 dividend on an annualized basis and a yield of 5.60%. BP’s dividend payout ratio is currently 203.42%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised BP from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, November 7th. Vetr raised BP from a “hold” rating to a “buy” rating and set a $40.48 price target on the stock in a report on Friday, November 17th. Evercore ISI upped their price target on BP from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Finally, Kepler Capital Markets raised BP from a “reduce” rating to a “hold” rating in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.63.
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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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