Longer Investments Inc. Purchases New Holdings in BP plc (BP)

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Longer Investments Inc. purchased a new stake in BP plc (NYSE:BP) in the third quarter, Holdings Channel reports. The firm purchased 52,895 shares of the oil and gas exploration company’s stock, valued at approximately $2,438,000. BP makes up about 2.3% of Longer Investments Inc.’s investment portfolio, making the stock its 21st biggest position.

Other institutional investors have also added to or reduced their stakes in the company. One Capital Management LLC increased its stake in shares of BP by 2.0% in the 3rd quarter. One Capital Management LLC now owns 56,623 shares of the oil and gas exploration company’s stock valued at $2,610,000 after acquiring an additional 1,113 shares during the last quarter. Formidable Asset Management LLC increased its stake in shares of BP by 8.8% in the 2nd quarter. Formidable Asset Management LLC now owns 14,033 shares of the oil and gas exploration company’s stock valued at $641,000 after acquiring an additional 1,138 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of BP by 5.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 22,985 shares of the oil and gas exploration company’s stock valued at $1,050,000 after acquiring an additional 1,277 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of BP by 29.0% in the 2nd quarter. Parallel Advisors LLC now owns 5,866 shares of the oil and gas exploration company’s stock valued at $267,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Salient Trust Co. LTA increased its stake in shares of BP by 5.8% in the 2nd quarter. Salient Trust Co. LTA now owns 24,560 shares of the oil and gas exploration company’s stock valued at $1,121,000 after acquiring an additional 1,336 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Shares of BP traded down $0.52 on Thursday, hitting $43.83. The company’s stock had a trading volume of 365,774 shares, compared to its average volume of 6,231,799. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. BP plc has a fifty-two week low of $36.15 and a fifty-two week high of $47.83. The firm has a market capitalization of $153.32 billion, a PE ratio of 23.36, a P/E/G ratio of 3.39 and a beta of 0.90.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. BP had a return on equity of 9.28% and a net margin of 2.55%. The business had revenue of $75.44 billion during the quarter, compared to analyst estimates of $82.25 billion. During the same period in the previous year, the firm earned $0.21 EPS. BP’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts predict that BP plc will post 3.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 21st were given a $0.615 dividend. The ex-dividend date was Friday, September 21st. This represents a $2.46 annualized dividend and a dividend yield of 5.61%. BP’s dividend payout ratio is presently 129.79%.

BP has been the subject of a number of recent analyst reports. Zacks Investment Research cut BP from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Goldman Sachs Group raised BP from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, August 9th. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Wednesday, October 3rd. HSBC raised BP to a “buy” rating in a research note on Monday, July 30th. Finally, Royal Bank of Canada raised BP from an “outperform” rating to a “top pick” rating in a research note on Monday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $51.84.

About BP

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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Institutional Ownership by Quarter for BP (NYSE:BP)

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