RMR Wealth Builders purchased a new position in shares of BP plc (NYSE:BP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,049 shares of the oil and gas exploration company’s stock, valued at approximately $48,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nations Financial Group Inc. IA ADV lifted its holdings in BP by 4.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 9,378 shares of the oil and gas exploration company’s stock worth $219,000 after buying an additional 421 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in BP by 0.9% during the 2nd quarter. Patten & Patten Inc. TN now owns 51,343 shares of the oil and gas exploration company’s stock worth $1,197,000 after buying an additional 434 shares during the last quarter. Glenview Trust Co lifted its holdings in shares of BP by 2.9% in the 2nd quarter. Glenview Trust Co now owns 15,670 shares of the oil and gas exploration company’s stock valued at $365,000 after purchasing an additional 441 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of 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 valued at $33,000 after purchasing an additional 457 shares during the last quarter. Finally, Advisors Management Group Inc. ADV lifted its holdings in shares of BP by 4.3% in the 1st quarter. Advisors Management Group Inc. ADV now owns 11,298 shares of the oil and gas exploration company’s stock valued at $276,000 after purchasing an additional 468 shares during the last quarter. 8.51% of the stock is owned by institutional investors.
Shares of BP stock traded up $0.40 during trading hours on Wednesday, reaching $20.06. 628,571 shares of the company’s stock were exchanged, compared to its average volume of 10,331,544. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.30 and a quick ratio of 1.08. The company’s 50 day moving average is $21.87 and its two-hundred day moving average is $23.51. The company has a market cap of $66.38 billion, a P/E ratio of -3.08 and a beta of 0.71. BP plc has a 1 year low of $15.51 and a 1 year high of $40.08.
BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.99) by ($0.99). BP had a negative net margin of 9.45% and a negative return on equity of 1.14%. The business had revenue of $31.68 billion during the quarter, compared to analysts’ expectations of $38.70 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was down 56.4% compared to the same quarter last year. As a group, analysts predict that BP plc will post -1.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 14th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.18%. BP’s dividend payout ratio (DPR) is presently 42.03%.
BP has been the topic of several research analyst reports. Societe Generale raised BP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler upgraded shares of BP from a “neutral” rating to an “overweight” rating and upped their price target for the company from $28.00 to $31.00 in a research report on Monday, August 17th. Credit Suisse Group upgraded shares of BP from a “neutral” rating to an “outperform” rating in a research note on Monday. Raymond James reiterated a “buy” rating and set a $28.00 price target on shares of BP in a research note on Tuesday. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of BP in a research note on Tuesday, July 7th. Four analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.74.
BP Company Profile
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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