Park National Corp OH lowered its stake in BP plc (NYSE:BP) by 16.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,225 shares of the oil and gas exploration company’s stock after selling 2,782 shares during the quarter. Park National Corp OH’s holdings in BP were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Ellis Investment Partners LLC grew its stake in BP by 68.5% during the 2nd quarter. Ellis Investment Partners LLC now owns 1,230 shares of the oil and gas exploration company’s stock valued at $28,000 after acquiring an additional 500 shares in the last quarter. JNBA Financial Advisors grew its stake in BP by 109.1% during the 2nd quarter. JNBA Financial Advisors now owns 1,246 shares of the oil and gas exploration company’s stock valued at $29,000 after acquiring an additional 650 shares in the last quarter. Sound Income Strategies LLC grew its stake in BP by 48.1% during 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 acquiring an additional 457 shares in the last quarter. Campbell Wealth Management purchased a new position in BP during the 2nd quarter valued at about $43,000. Finally, Costello Asset Management INC purchased a new position in BP during the 2nd quarter valued at about $44,000. 8.51% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on BP shares. Raymond James reissued a “buy” rating and issued a $28.00 price target on shares of BP in a research note on Tuesday, September 15th. Cowen lowered their price target on BP from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 17th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of BP in a research note on Wednesday, July 15th. Scotiabank started coverage on BP in a research note on Wednesday, September 23rd. They issued a “sector perform” rating and a $23.00 price target for the company. Finally, Barclays reissued an “overweight” rating on shares of BP in a research note on Wednesday, July 1st. Four analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.99.
Shares of BP stock opened at $16.85 on Friday. BP plc has a 12 month low of $15.51 and a 12 month high of $40.08. The stock has a 50 day moving average of $20.30 and a 200-day moving average of $22.56. The company has a current ratio of 1.30, a quick ratio of 1.08 and a debt-to-equity ratio of 0.87.
BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.99). BP had a negative return on equity of 1.14% and a negative net margin of 9.45%. The business had revenue of $31.68 billion for the quarter, compared to analyst estimates 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, sell-side analysts expect that BP plc will post -1.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, August 14th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.36%. BP’s dividend payout ratio (DPR) is presently 42.03%.
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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