BP PLC (BP) Position Cut by First Midwest Bank Trust Division
First Midwest Bank Trust Division cut its stake in shares of BP PLC (NYSE:BP) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 55,530 shares of the oil and gas exploration company’s stock after selling 1,538 shares during the period. First Midwest Bank Trust Division’s holdings in BP PLC were worth $1,953,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of BP PLC during the second quarter valued at about $257,496,000. Franklin Resources Inc. increased its stake in shares of BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock valued at $1,273,003,000 after buying an additional 5,815,906 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of BP PLC by 173.3% in the second quarter. BlackRock Advisors LLC now owns 7,208,886 shares of the oil and gas exploration company’s stock valued at $255,988,000 after buying an additional 4,571,568 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of BP PLC during the second quarter valued at about $157,139,000. Finally, Acadian Asset Management LLC increased its stake in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares in the last quarter. 11.71% of the stock is owned by hedge funds and other institutional investors.
BP PLC (NYSE:BP) traded up 4.45% during mid-day trading on Wednesday, hitting $35.01. 11,784,765 shares of the stock were exchanged. The stock’s 50-day moving average is $34.65 and its 200 day moving average is $34.14. The company’s market capitalization is $110.36 billion. BP PLC has a 52 week low of $27.01 and a 52 week high of $37.28.
BP PLC (NYSE:BP) last announced its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The business earned $48.04 billion during the quarter, compared to analyst estimates of $50.51 billion. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. BP PLC’s quarterly revenue was down 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts anticipate that BP PLC will post $1.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 11th will be paid a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 dividend on an annualized basis and a yield of 6.80%. BP PLC’s dividend payout ratio (DPR) is presently -195.08%.
BP has been the subject of several research reports. Barclays PLC reissued a “buy” rating on shares of BP PLC in a research report on Thursday, October 6th. reissued a “buy” rating on shares of BP PLC in a research report on Tuesday, August 16th. Vetr downgraded shares of BP PLC from a “strong-buy” rating to a “buy” rating and set a $37.66 price objective for the company. in a research report on Friday, August 12th. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. Finally, Jefferies Group reissued a “hold” rating on shares of BP PLC in a research report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price 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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