Pinnacle Financial Partners Inc. trimmed its holdings in BP plc (NYSE:BP) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 12,538 shares of the oil and gas exploration company’s stock after selling 779 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in BP were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. 9258 Wealth Management LLC boosted its stake in BP by 5.4% in the 4th quarter. 9258 Wealth Management LLC now owns 24,921 shares of the oil and gas exploration company’s stock worth $941,000 after purchasing an additional 1,274 shares during the period. Sound Shore Management Inc. CT boosted its stake in BP by 13.7% in the 4th quarter. Sound Shore Management Inc. CT now owns 28,150 shares of the oil and gas exploration company’s stock worth $1,062,000 after purchasing an additional 3,400 shares during the period. Signaturefd LLC boosted its stake in BP by 51.6% in the 4th quarter. Signaturefd LLC now owns 31,701 shares of the oil and gas exploration company’s stock worth $1,196,000 after purchasing an additional 10,787 shares during the period. Samalin Investment Counsel LLC bought a new position in BP in the 4th quarter worth approximately $233,000. Finally, Beddow Capital Management Inc. bought a new position in BP in the 4th quarter worth approximately $290,000. Institutional investors and hedge funds own 10.59% of the company’s stock.

Several research analysts have weighed in on BP shares. Argus downgraded BP from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Piper Jaffray Companies started coverage on BP in a report on Tuesday, November 26th. They set a “buy” rating and a $47.00 price objective on the stock. Raymond James reaffirmed a “buy” rating and set a $48.00 price objective on shares of BP in a report on Tuesday, January 21st. Berenberg Bank cut BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Co raised BP from an “equal weight” rating to an “overweight” rating in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $47.05.

Shares of BP traded down $0.40 during mid-day trading on Friday, hitting $35.78. 405,190 shares of the stock were exchanged, compared to its average volume of 9,068,322. The company has a market cap of $122.89 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. BP plc has a 52-week low of $35.07 and a 52-week high of $45.38. The firm has a 50-day moving average of $37.85 and a two-hundred day moving average of $37.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.83 and a current ratio of 1.12.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.11. The business had revenue of $71.11 billion for the quarter, compared to analysts’ expectations of $67.44 billion. BP had a return on equity of 9.80% and a net margin of 1.42%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. On average, sell-side analysts predict that BP plc will post 2.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.04%. This is a boost from BP’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, February 13th. BP’s dividend payout ratio is 82.71%.

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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Institutional Ownership by Quarter for BP (NYSE:BP)

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