Burke & Herbert Bank & Trust Co. decreased its position in shares of BP plc (NYSE:BP) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 10,579 shares of the oil and gas exploration company’s stock after selling 530 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in BP plc were worth $375,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Washington Trust Bank raised its stake in shares of BP plc by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock worth $118,000 after buying an additional 2,082 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of BP plc by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock worth $146,000 after buying an additional 26 shares in the last quarter. Iowa State Bank bought a new stake in shares of BP plc during the second quarter worth about $159,000. Commonwealth Financial Services LLC raised its stake in shares of BP plc by 6.1% in the second quarter. Commonwealth Financial Services LLC now owns 4,894 shares of the oil and gas exploration company’s stock worth $174,000 after buying an additional 283 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of BP plc by 5.6% in the second quarter. JFS Wealth Advisors LLC now owns 5,381 shares of the oil and gas exploration company’s stock worth $191,000 after buying an additional 286 shares in the last quarter. 12.06% of the stock is owned by hedge funds and other institutional investors.
Shares of BP plc (NYSE:BP) traded up 0.88% during trading on Monday, reaching $35.47. 4,873,322 shares of the company traded hands. BP plc has a 1-year low of $27.01 and a 1-year high of $37.53. The stock’s 50 day moving average is $34.12 and its 200 day moving average is $33.03. The company’s market capitalization is $111.00 billion.
BP plc (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.05. The company earned $46.44 billion during the quarter, compared to analysts’ expectations of $50.22 billion. BP plc had a negative net margin of 2.76% and a positive return on equity of 3.32%. The business’s quarterly revenue was down 25.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, analysts forecast that BP plc will post $1.10 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend was Wednesday, August 3rd. BP plc’s payout ratio is -139.18%.
A number of analysts have recently issued reports on the stock. Jefferies Group boosted their target price on shares of BP plc from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, July 11th. Morgan Stanley reaffirmed a “neutral” rating on shares of BP plc in a research note on Monday, June 13th. Vetr lowered shares of BP plc from a “buy” rating to a “hold” rating and set a $33.74 price objective for the company. in a research note on Monday, June 6th. Citigroup Inc. raised shares of BP plc from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.15 to $39.00 in a research note on Thursday, June 16th. Finally, Collins Stewart reaffirmed a “buy” rating on shares of BP plc in a research note on Sunday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average 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.
Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).
Receive News & Ratings for BP plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP plc and related companies with MarketBeat.com's FREE daily email newsletter.