Viking Fund Management LLC Sells 17,300 Shares of BP plc (BP)
Viking Fund Management LLC decreased its position in shares of BP plc (NYSE:BP) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,400 shares of the oil and gas exploration company’s stock after selling 17,300 shares during the period. Viking Fund Management LLC’s holdings in BP were worth $2,328,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Stonehearth Capital Management LLC bought a new position in BP during the 4th quarter worth $115,000. Cable Hill Partners LLC increased its position in BP by 639.9% during the 3rd quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock worth $137,000 after buying an additional 3,078 shares during the period. Fieldpoint Private Securities LLC bought a new position in BP during the 3rd quarter worth $151,000. Country Trust Bank increased its position in BP by 228.5% during the 4th quarter. Country Trust Bank now owns 3,758 shares of the oil and gas exploration company’s stock worth $158,000 after buying an additional 2,614 shares during the period. Finally, Davis R M Inc. bought a new position in BP during the 4th quarter worth $205,000. Hedge funds and other institutional investors own 9.94% of the company’s stock.
Shares of BP plc (NYSE BP) traded down $0.50 during midday trading on Friday, hitting $42.40. The company had a trading volume of 5,493,047 shares, compared to its average volume of 5,003,669. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.57. BP plc has a 52 week low of $33.10 and a 52 week high of $43.99. The company has a market capitalization of $140,810.00, a PE ratio of 36.24, a P/E/G ratio of 0.91 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, November 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend was Thursday, November 9th. This is a boost from BP’s previous quarterly dividend of $0.60. BP’s payout ratio is currently 203.42%.
Several research firms have weighed in on BP. Zacks Investment Research upgraded BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, November 7th. TheStreet upgraded BP from a “c” rating to a “b” rating in a research report on Wednesday, November 8th. Scotiabank restated a “buy” rating and issued a $39.00 price target on shares of BP in a research report on Wednesday, November 1st. Evercore ISI raised their price target on BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. Finally, Vetr cut BP from a “buy” rating to a “hold” rating and set a $41.28 price target on the stock. in a research report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.63.
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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