Patton Albertson Miller Group LLC Sells 2,439 Shares of BP p.l.c. (NYSE:BP)
Patton Albertson Miller Group LLC lowered its stake in shares of BP p.l.c. (NYSE:BP) by 27.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,451 shares of the oil and gas exploration company’s stock after selling 2,439 shares during the period. Patton Albertson Miller Group LLC’s holdings in BP p.l.c. were worth $231,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its position in BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares during the period. Feltz Wealth PLAN Inc. acquired a new position in shares of BP p.l.c. during the first quarter valued at about $106,000. Crestwood Advisors Group LLC acquired a new position in shares of BP p.l.c. during the first quarter valued at about $114,000. Pictet North America Advisors SA acquired a new position in shares of BP p.l.c. during the first quarter valued at about $128,000. Finally, IHT Wealth Management LLC increased its position in shares of BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after buying an additional 689 shares in the last quarter. 9.95% of the stock is owned by institutional investors.
Shares of BP p.l.c. (NYSE:BP) opened at 34.94 on Friday. The firm’s 50-day moving average is $35.15 and its 200 day moving average is $35.01. The firm has a market capitalization of $114.94 billion, a P/E ratio of 30.49 and a beta of 0.94. BP p.l.c. has a 52 week low of $32.53 and a 52 week high of $38.68.
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. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business had revenue of $56.51 billion during the quarter, compared to the consensus estimate of $56.09 billion. During the same period in the previous year, the business posted $0.23 earnings per share. BP p.l.c.’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts forecast that BP p.l.c. will post $1.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.81%. BP p.l.c.’s dividend payout ratio is 206.96%.
Several brokerages have recently issued reports on BP. TheStreet downgraded BP p.l.c. from a “b-” rating to a “c” rating in a research report on Thursday. Piper Jaffray Companies upgraded BP p.l.c. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $36.33 to $42.00 in a research report on Friday, August 4th. BidaskClub upgraded BP p.l.c. from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Scotiabank set a $37.00 price objective on BP p.l.c. and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, Societe Generale downgraded BP p.l.c. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $35.04 to $34.90 in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. BP p.l.c. currently has an average rating of “Hold” and a consensus target price of $36.51.
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.
Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP p.l.c. (NYSE:BP).
Receive News & Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related companies with Analyst Ratings Network's FREE daily email newsletter.