Weather Gauge Advisory LLC lowered its stake in BP plc (NYSE:BP) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,027 shares of the oil and gas exploration company’s stock after selling 711 shares during the quarter. Weather Gauge Advisory LLC’s holdings in BP were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of BP. Fruth Investment Management increased its stake in shares of BP by 3.7% in the second quarter. Fruth Investment Management now owns 13,992 shares of the oil and gas exploration company’s stock worth $326,000 after purchasing an additional 500 shares in the last quarter. Strategic Wealth Designers lifted its stake in shares of BP by 23.3% during the 2nd quarter. Strategic Wealth Designers now owns 39,099 shares of the oil and gas exploration company’s stock valued at $912,000 after buying an additional 7,395 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in BP by 48.1% in the 2nd quarter. Sound Income Strategies LLC now owns 1,407 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 457 shares during the period. City Holding Co. increased its stake in BP by 3.5% in the 2nd quarter. City Holding Co. now owns 41,038 shares of the oil and gas exploration company’s stock worth $957,000 after buying an additional 1,398 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in BP by 14.5% during the second quarter. Global Retirement Partners LLC now owns 24,345 shares of the oil and gas exploration company’s stock valued at $568,000 after acquiring an additional 3,075 shares during the period. 10.11% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on BP shares. Morgan Stanley cut BP from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 14th. UBS Group reaffirmed a “buy” rating on shares of BP in a report on Monday, June 15th. ValuEngine raised shares of BP from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Raymond James reduced their price target on shares of BP from $44.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Finally, Royal Bank of Canada reissued an “underperform” rating on shares of BP in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.51.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.04). BP had a negative net margin of 1.19% and a positive return on equity of 8.53%. The business had revenue of $59.65 billion during the quarter, compared to the consensus estimate of $56.89 billion. During the same period last year, the company earned $0.12 EPS. The business’s revenue was down 10.1% compared to the same quarter last year. On average, analysts predict that BP plc will post -0.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Monday, May 11th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 10.74%. The ex-dividend date of this dividend was Friday, May 8th. BP’s payout ratio is presently 84.75%.
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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