BP plc (BP) Holdings Lifted by Viking Fund Management LLC
Viking Fund Management LLC grew its holdings in BP plc (NYSE:BP) by 169.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,500 shares of the oil and gas exploration company’s stock after purchasing an additional 82,000 shares during the quarter. Viking Fund Management LLC’s holdings in BP were worth $5,705,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Paradigm Financial Advisors LLC acquired a new position in BP during the 1st quarter worth $229,000. Carnick & Kubik Group LLC raised its position in shares of BP by 147.1% during the 1st quarter. Carnick & Kubik Group LLC now owns 89,200 shares of the oil and gas exploration company’s stock worth $3,900,000 after buying an additional 53,100 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of BP by 14.8% during the 1st quarter. CAPROCK Group Inc. now owns 49,119 shares of the oil and gas exploration company’s stock worth $2,147,000 after buying an additional 6,332 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of BP in the 1st quarter worth approximately $4,406,000. Finally, Truvestments Capital LLC bought a new stake in shares of BP in the 1st quarter worth approximately $117,000. Institutional investors and hedge funds own 10.80% of the company’s stock.
Shares of BP traded up $0.16 during mid-day trading on Monday, hitting $44.83. 233,965 shares of the company’s stock were exchanged, compared to its average volume of 4,675,091. BP plc has a 52 week low of $36.28 and a 52 week high of $47.83. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $149.27 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.98 and a beta of 0.80.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, February 15th were issued a $0.615 dividend. This represents a $2.46 annualized dividend and a yield of 5.49%. The ex-dividend date was Thursday, February 14th. BP’s payout ratio is presently 64.21%.
A number of research analysts recently commented on BP shares. Deutsche Bank reaffirmed a “buy” rating on shares of BP in a research report on Thursday, March 7th. Zacks Investment Research upgraded shares of BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Wells Fargo & Co assumed coverage on shares of BP in a research note on Tuesday, December 18th. They issued a “market perform” rating and a $41.00 price objective for the company. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $57.75.
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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