Corient Capital Partners LLC Buys New Stake in BP plc (BP)

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Corient Capital Partners LLC bought a new stake in shares of BP plc (NYSE:BP) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 8,327 shares of the oil and gas exploration company’s stock, valued at approximately $364,000.

Other institutional investors have also made changes to their positions in the company. Planning Solutions Group LLC bought a new position in BP in the first quarter worth approximately $224,000. Reynders McVeigh Capital Management LLC bought a new position in shares of BP in the first quarter valued at approximately $222,000. Lido Advisors LLC lifted its holdings in shares of BP by 197.4% in the first quarter. Lido Advisors LLC now owns 30,640 shares of the oil and gas exploration company’s stock valued at $1,339,000 after purchasing an additional 20,337 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of BP in the first quarter valued at approximately $1,832,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of BP by 15.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 70,865 shares of the oil and gas exploration company’s stock valued at $3,098,000 after purchasing an additional 9,359 shares in the last quarter. Institutional investors own 11.04% of the company’s stock.

Shares of BP opened at $41.04 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.02 and a quick ratio of 0.72. The company has a market cap of $138.27 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.79. BP plc has a 12 month low of $36.28 and a 12 month high of $47.57.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $66.32 billion during the quarter, compared to the consensus estimate of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. BP’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. On average, equities research analysts predict that BP plc will post 3.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be given a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Thursday, May 9th. BP’s payout ratio is 64.21%.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a report on Tuesday, April 16th. Finally, Deutsche Bank restated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. BP presently has an average rating of “Buy” and a consensus price target of $55.41.

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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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Institutional Ownership by Quarter for BP (NYSE:BP)

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