Northern Capital Management LLC boosted its position in shares of BP PLC (NYSE:BP) by 18.3% during the second quarter, Holdings Channel reports. The institutional investor owned 73,999 shares of the oil and gas exploration company’s stock after buying an additional 11,440 shares during the period. BP PLC makes up approximately 1.2% of Northern Capital Management LLC’s investment portfolio, making the stock its 29th largest position. Northern Capital Management LLC’s holdings in BP PLC were worth $2,628,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BP. Bank of Montreal Can bought a new stake in shares of BP PLC during the second quarter worth approximately $257,496,000. Franklin Resources Inc. boosted its stake 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 last quarter. Acadian Asset Management LLC boosted its stake 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 last quarter. Renaissance Technologies LLC boosted its stake in shares of BP PLC by 226.5% in the first quarter. Renaissance Technologies LLC now owns 979,700 shares of the oil and gas exploration company’s stock worth $29,567,000 after buying an additional 679,600 shares during the last quarter. Finally, Seminole Management Co. Inc. boosted its stake in shares of BP PLC by 82.1% in the second quarter. Seminole Management Co. Inc. now owns 1,310,369 shares of the oil and gas exploration company’s stock worth $46,531,000 after buying an additional 590,690 shares during the last quarter. 12.06% of the stock is currently owned by institutional investors.
BP PLC (NYSE:BP) traded up 0.29% during trading on Friday, reaching $35.16. The company’s stock had a trading volume of 6,106,040 shares. BP PLC has a one year low of $27.01 and a one year high of $37.53. The firm’s market capitalization is $110.03 billion. The stock has a 50-day moving average of $34.07 and a 200 day moving average of $32.99.
BP PLC (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The firm had revenue of $46.44 billion for the quarter, compared to analyst estimates of $50.22 billion. During the same period in the prior year, the firm posted $0.07 EPS. The business’s revenue was down 25.7% compared to the same quarter last year. On average, equities research analysts predict that BP PLC will post $1.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were issued a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a dividend yield of 6.77%. BP PLC’s dividend payout ratio (DPR) is presently -139.18%.
BP has been the subject of a number of analyst reports. Vetr cut BP PLC from a “buy” rating to a “hold” rating and set a $33.74 price target for the company. in a research report on Monday, June 6th. Morgan Stanley restated a “neutral” rating on shares of BP PLC in a research report on Monday, June 13th. Citigroup Inc. upgraded BP PLC from a “neutral” rating to a “buy” rating and upped their price target for the stock from $31.15 to $39.00 in a research report on Thursday, June 16th. Finally, Collins Stewart restated a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price 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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