Gabelli Funds LLC trimmed its holdings in BP plc (NYSE:BP) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 847,700 shares of the oil and gas exploration company’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in BP were worth $39,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. One Capital Management LLC increased its position in 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 buying an additional 1,113 shares in the last quarter. Formidable Asset Management LLC increased its position in 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 buying an additional 1,138 shares in the last quarter. Smith Asset Management Group LP increased its position in BP by 4.5% in the 3rd quarter. Smith Asset Management Group LP now owns 29,200 shares of the oil and gas exploration company’s stock valued at $1,346,000 after buying an additional 1,250 shares in the last quarter. Checchi Capital Advisers LLC increased its position in 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 buying an additional 1,277 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in 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 buying an additional 1,320 shares in the last quarter. 10.93% of the stock is currently owned by institutional investors.
Shares of BP stock opened at $42.66 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.22 and a quick ratio of 0.91. The stock has a market capitalization of $138.35 billion, a P/E ratio of 12.16, a PEG ratio of 0.66 and a beta of 0.85. BP plc has a one year low of $36.15 and a one year high of $47.83.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.29. The firm had revenue of $79.47 billion during the quarter, compared to analyst estimates of $75.31 billion. BP had a return on equity of 11.14% and a net margin of 2.91%. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Analysts expect that BP plc will post 3.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend is Thursday, November 8th. BP’s dividend payout ratio is currently 129.79%.
BP has been the subject of a number of research analyst reports. Goldman Sachs Group raised BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 5th. HSBC raised BP to a “buy” rating in a research report on Monday, July 30th. Santander raised BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Finally, Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, October 3rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. BP has a consensus rating of “Buy” and an average target price of $54.22.
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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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