American Financial Group Inc. Has $2,901,000 Position in BP PLC (BP)
American Financial Group Inc. continued to hold its stake in BP PLC (NYSE:BP) during the third quarter, Holdings Channel reports. The fund owned 82,500 shares of the oil and gas exploration company’s stock at the end of the third quarter. American Financial Group Inc.’s holdings in BP PLC were worth $2,901,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BP. CHICAGO TRUST Co NA raised its position in BP PLC by 10.8% in the second quarter. CHICAGO TRUST Co NA now owns 25,944 shares of the oil and gas exploration company’s stock worth $921,000 after buying an additional 2,533 shares during the last quarter. Edge Wealth Management LLC raised its position in BP PLC by 20.1% in the second quarter. Edge Wealth Management LLC now owns 159,479 shares of the oil and gas exploration company’s stock worth $5,662,000 after buying an additional 26,716 shares during the last quarter. Private Asset Management Inc. raised its position in BP PLC by 29.3% in the second quarter. Private Asset Management Inc. now owns 168,472 shares of the oil and gas exploration company’s stock worth $5,982,000 after buying an additional 38,177 shares during the last quarter. Washington Trust Bank raised its position in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock worth $118,000 after buying an additional 2,082 shares during the last quarter. Finally, NEXT Financial Group Inc raised its position in BP PLC by 47.3% in the second quarter. NEXT Financial Group Inc now owns 22,640 shares of the oil and gas exploration company’s stock worth $803,000 after buying an additional 7,269 shares during the last quarter. 11.71% of the stock is owned by hedge funds and other institutional investors.
Shares of BP PLC (NYSE:BP) traded down 0.59% on Tuesday, hitting $33.52. The stock had a trading volume of 5,896,558 shares. The firm’s market capitalization is $105.66 billion. The company has a 50 day moving average of $34.77 and a 200-day moving average of $34.13. BP PLC has a 12-month low of $27.01 and a 12-month high of $37.28.
BP PLC (NYSE:BP) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $48.04 billion for the quarter, compared to analysts’ expectations of $50.51 billion. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The business’s revenue was down 16.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts predict that BP PLC will post $1.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 11th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 annualized dividend and a yield of 7.10%. BP PLC’s dividend payout ratio is currently -195.08%.
BP has been the topic of a number of recent analyst reports. Vetr upgraded BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.87 price objective on the stock in a research note on Monday, August 1st. reiterated a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of BP PLC in a research note on Thursday, September 8th. Zacks Investment Research upgraded BP PLC from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Finally, Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. BP PLC has an average rating of “Buy” and an average price target of $37.48.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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