BP plc (NYSE:BP) Shares Bought by Northeast Financial Consultants Inc
Northeast Financial Consultants Inc boosted its position in shares of BP plc (NYSE:BP) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,827 shares of the oil and gas exploration company’s stock after purchasing an additional 9,782 shares during the quarter. Northeast Financial Consultants Inc’s holdings in BP were worth $5,676,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BP. FMR LLC raised its holdings in shares of BP by 22.6% in the fourth quarter. FMR LLC now owns 26,000,484 shares of the oil and gas exploration company’s stock worth $985,939,000 after acquiring an additional 4,797,414 shares during the last quarter. BlackRock Inc. raised its holdings in shares of BP by 51.5% in the first quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock worth $530,835,000 after acquiring an additional 4,126,312 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of BP by 80.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock worth $159,705,000 after acquiring an additional 1,631,395 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of BP by 20.9% in the first quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock worth $250,090,000 after acquiring an additional 989,753 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of BP by 208.9% in the fourth quarter. APG Asset Management N.V. now owns 1,420,960 shares of the oil and gas exploration company’s stock worth $47,135,000 after acquiring an additional 960,963 shares during the last quarter. Institutional investors own 11.04% of the company’s stock.
BP has been the subject of several analyst reports. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price for the company. in a research note on Tuesday, April 16th. Deutsche Bank reiterated a “buy” rating on shares of BP in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.41.
BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $66.32 billion during the quarter, compared to analyst estimates of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts predict that BP plc will post 3.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.46 annualized dividend and a yield of 5.99%. BP’s dividend payout ratio is presently 64.21%.
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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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