Cullen Frost Bankers Inc. decreased its stake in BP plc (NYSE:BP) by 3.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,171 shares of the oil and gas exploration company’s stock after selling 3,147 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in BP were worth $3,139,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of BP by 1.5% in the 3rd quarter. State Street Corp now owns 28,078,342 shares of the oil and gas exploration company’s stock valued at $1,066,696,000 after purchasing an additional 409,260 shares during the period. BlackRock Inc. boosted its position in shares of BP by 0.7% in the 2nd quarter. BlackRock Inc. now owns 12,227,888 shares of the oil and gas exploration company’s stock valued at $509,903,000 after purchasing an additional 86,190 shares during the period. Fisher Asset Management LLC boosted its position in shares of BP by 29.5% in the 3rd quarter. Fisher Asset Management LLC now owns 9,071,080 shares of the oil and gas exploration company’s stock valued at $344,610,000 after purchasing an additional 2,064,781 shares during the period. Sanders Capital LLC boosted its position in shares of BP by 16.3% in the 4th quarter. Sanders Capital LLC now owns 7,721,009 shares of the oil and gas exploration company’s stock valued at $291,391,000 after purchasing an additional 1,084,803 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of BP by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 2,656,348 shares of the oil and gas exploration company’s stock valued at $100,189,000 after purchasing an additional 41,972 shares during the period. Institutional investors and hedge funds own 10.59% of the company’s stock.
A number of research firms recently weighed in on BP. Berenberg Bank lowered BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Argus lowered BP from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Co upgraded BP from an “equal weight” rating to an “overweight” rating in a research report on Monday, January 6th. Raymond James restated a “buy” rating and set a $48.00 price objective on shares of BP in a research report on Tuesday, January 21st. Finally, Piper Jaffray Companies assumed coverage on BP in a research report on Tuesday, November 26th. They set a “buy” rating and a $47.00 price objective for the company. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $47.05.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.11. BP had a return on equity of 9.80% and a net margin of 1.42%. The firm had revenue of $71.11 billion during the quarter, compared to analyst estimates of $67.44 billion. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts anticipate that BP plc will post 2.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 14th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from BP’s previous quarterly dividend of $0.61. This represents a $2.52 dividend on an annualized basis and a yield of 7.00%. BP’s dividend payout ratio (DPR) is presently 84.75%.
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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