Harbor Investment Advisory LLC Grows Stake in BP p.l.c. (NYSE:BP)
Harbor Investment Advisory LLC increased its stake in BP p.l.c. (NYSE:BP) by 1,220.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,973 shares of the oil and gas exploration company’s stock after buying an additional 6,445 shares during the quarter. Harbor Investment Advisory LLC’s holdings in BP were worth $170,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Bogart Wealth LLC lifted its position in BP by 735.1% during the 1st quarter. Bogart Wealth LLC now owns 2,046 shares of the oil and gas exploration company’s stock worth $50,000 after acquiring an additional 1,801 shares in the last quarter. Rothschild Investment Corp IL lifted its position in shares of BP by 5.4% during the first quarter. Rothschild Investment Corp IL now owns 83,586 shares of the oil and gas exploration company’s stock worth $2,035,000 after purchasing an additional 4,310 shares in the last quarter. Atlas Brown Inc. grew its holdings in BP by 10.5% during the 1st quarter. Atlas Brown Inc. now owns 41,843 shares of the oil and gas exploration company’s stock valued at $1,019,000 after purchasing an additional 3,966 shares in the last quarter. Butensky & Cohen Financial Security Inc. increased its stake in BP by 10.5% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 83,514 shares of the oil and gas exploration company’s stock worth $2,034,000 after buying an additional 7,945 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in BP by 5.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 455,381 shares of the oil and gas exploration company’s stock worth $11,089,000 after buying an additional 21,726 shares in the last quarter. Institutional investors and hedge funds own 7.91% of the company’s stock.
BP has been the topic of several recent analyst reports. HSBC upgraded BP from a “hold” rating to a “buy” rating in a research note on Friday, April 16th. Oddo Bhf lowered shares of BP from a “neutral” rating to an “underperform” rating in a report on Friday, March 12th. Scotiabank upgraded BP from a “sector perform” rating to a “sector outperform” rating and set a $28.00 price target for the company in a research note on Tuesday, February 16th. Raymond James upped their price objective on BP from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 23rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of BP in a research report on Wednesday, March 3rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. BP currently has a consensus rating of “Hold” and an average price target of $27.69.
BP (NYSE:BP) last released its earnings results on Monday, February 1st. The oil and gas exploration company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). BP had a negative return on equity of 3.64% and a negative net margin of 10.45%. The company had revenue of $48.57 billion during the quarter, compared to analysts’ expectations of $52.15 billion. During the same quarter in the previous year, the company earned $0.13 EPS. The firm’s quarterly revenue was down 32.7% compared to the same quarter last year. On average, analysts predict that BP p.l.c. will post -1.56 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, February 19th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend was Thursday, February 18th. BP’s payout ratio is currently 42.03%.
BP PLC engages in the energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, and 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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