Jasper Ridge Partners L.P. held its position in BP p.l.c. (NYSE:BP) during the first quarter, Holdings Channel reports. The fund owned 97,656 shares of the oil and gas exploration company’s stock at the end of the first quarter. Jasper Ridge Partners L.P.’s holdings in BP p.l.c. were worth $3,371,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlantic Trust Group LLC raised its position in BP p.l.c. by 4.4% in the first quarter. Atlantic Trust Group LLC now owns 46,133 shares of the oil and gas exploration company’s stock valued at $1,593,000 after buying an additional 1,961 shares during the period. Wayne Hummer Investments L.L.C. raised its position in BP p.l.c. by 67.2% in the first quarter. Wayne Hummer Investments L.L.C. now owns 10,191 shares of the oil and gas exploration company’s stock valued at $352,000 after buying an additional 4,097 shares during the period. Stifel Financial Corp raised its position in BP p.l.c. by 6.5% in the first quarter. Stifel Financial Corp now owns 529,837 shares of the oil and gas exploration company’s stock valued at $18,235,000 after buying an additional 32,292 shares during the period. AR Asset Management Inc. raised its position in BP p.l.c. by 8.6% in the first quarter. AR Asset Management Inc. now owns 12,642 shares of the oil and gas exploration company’s stock valued at $436,000 after buying an additional 1,000 shares during the period. Finally, Bristol Advisors LLC bought a new position in BP p.l.c. during the first quarter valued at $476,000. 10.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BP p.l.c. (NYSE BP) opened at 34.84 on Friday. The stock’s 50 day moving average price is $35.82 and its 200-day moving average price is $35.45. BP p.l.c. has a 52-week low of $31.57 and a 52-week high of $38.68. The company has a market capitalization of $114.19 billion, a P/E ratio of 51.85 and a beta of 0.99.
BP p.l.c. (NYSE:BP) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. The firm had revenue of $55.86 billion during the quarter, compared to analyst estimates of $59.87 billion. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. The business’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, equities analysts expect that BP p.l.c. will post $1.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, May 12th were paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 6.83%. The ex-dividend date was Wednesday, May 10th. BP p.l.c.’s dividend payout ratio is 366.16%.
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Several brokerages have recently commented on BP. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Jefferies Group LLC set a $36.00 target price on BP p.l.c. and gave the stock a “hold” rating in a research note on Wednesday, May 17th. Macquarie downgraded BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Simmons lifted their target price on BP p.l.c. from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Finally, Citigroup Inc. downgraded BP p.l.c. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.88 to $30.66 in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. BP p.l.c. currently has a consensus rating of “Buy” and an average price target of $36.21.
About BP p.l.c.
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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