WP Advisors LLC Boosts Holdings in BP plc (BP)
WP Advisors LLC grew its holdings in shares of BP plc (NYSE:BP) by 1.4% during the 1st quarter, HoldingsChannel reports. The fund owned 50,258 shares of the oil and gas exploration company’s stock after acquiring an additional 694 shares during the quarter. BP makes up 2.4% of WP Advisors LLC’s investment portfolio, making the stock its 13th biggest position. WP Advisors LLC’s holdings in BP were worth $2,197,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Legacy Inc. purchased a new position in shares of BP in the fourth quarter worth $161,000. Silverleafe Capital Partners LLC purchased a new position in shares of BP in the fourth quarter worth $357,000. Massachusetts Financial Services Co. MA increased its stake in shares of BP by 51.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,595,212 shares of the oil and gas exploration company’s stock worth $98,411,000 after buying an additional 881,094 shares during the period. Cooper Financial Group purchased a new position in shares of BP in the fourth quarter worth $252,000. Finally, Heritage Trust Co increased its stake in shares of BP by 62.0% in the fourth quarter. Heritage Trust Co now owns 1,458 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 558 shares during the period. 10.80% of the stock is currently owned by institutional investors.
BP has been the topic of several analyst reports. Deutsche Bank reaffirmed a “buy” rating on shares of BP in a research note on Thursday, March 7th. Zacks Investment Research raised shares of BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Wells Fargo & Co initiated coverage on shares of BP in a research note on Tuesday, December 18th. They issued a “market perform” rating and a $41.00 target price on the stock. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $57.75.
BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.27. The business had revenue of $75.68 billion for the quarter, compared to analysts’ expectations of $78.78 billion. BP had a net margin of 3.09% and a return on equity of 12.45%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, analysts expect that BP plc will post 3.2 EPS for the current fiscal year.
The business also recently declared 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 dividend payout ratio (DPR) is currently 64.21%.
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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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