Cullen Frost Bankers Inc. decreased its position in BP PLC (NYSE:BP) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,136 shares of the oil and gas exploration company’s stock after selling 3,786 shares during the period. Cullen Frost Bankers Inc.’s holdings in BP PLC were worth $2,490,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in BP. Franklin Resources Inc. raised its position in shares of BP PLC by 13.1% in the first quarter. Franklin Resources Inc. now owns 30,033,235 shares of the oil and gas exploration company’s stock worth $906,404,000 after buying an additional 3,467,640 shares during the period. Wellington Management Group LLP raised its position in shares of BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock worth $235,994,000 after buying an additional 22,315 shares during the period. Acadian Asset Management LLC raised its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock worth $263,671,000 after buying an additional 3,405,646 shares during the period. Bank of Montreal Can bought a new position in shares of BP PLC during the second quarter worth $257,496,000. Finally, Fisher Asset Management LLC raised its position in shares of BP PLC by 0.9% in the second quarter. Fisher Asset Management LLC now owns 998,677 shares of the oil and gas exploration company’s stock worth $36,062,000 after buying an additional 9,334 shares during the period. Hedge funds and other institutional investors own 12.06% of the company’s stock.
BP PLC (NYSE:BP) traded down 0.82% on Monday, hitting $33.68. 4,579,521 shares of the stock traded hands. The stock has a 50-day moving average of $33.96 and a 200-day moving average of $32.94. The firm’s market cap is $105.40 billion. BP PLC has a 12-month low of $27.01 and a 12-month high of $37.53.
BP PLC (NYSE:BP) last announced its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. The business earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. The company’s revenue was down 25.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. Analysts forecast that BP PLC will post $1.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were given a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 dividend on an annualized basis and a dividend yield of 7.07%. BP PLC’s payout ratio is presently -139.18%.
BP has been the topic of a number of research analyst reports. Vetr upgraded shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a report on Monday, June 27th. Credit Suisse Group AG upgraded shares of BP PLC from an “underperform” rating to a “neutral” rating in a report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BP PLC in a research note on Thursday, July 21st. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research note on Thursday, June 30th. Finally, Credit Agricole SA reissued a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $38.63.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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