Quantbot Technologies LP Takes $5.09 Million Position in BP p.l.c. (NYSE:BP)

Quantbot Technologies LP bought a new stake in BP p.l.c. (NYSE:BP) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 162,111 shares of the oil and gas exploration company’s stock, valued at approximately $5,089,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of BP during the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BP in the 2nd quarter valued at about $33,000. Quent Capital LLC acquired a new stake in shares of BP in the second quarter valued at about $38,000. Independence Bank of Kentucky grew its position in BP by 85.7% during the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock worth $47,000 after buying an additional 600 shares during the period. Finally, Indiana Trust & Investment Management CO increased its holdings in BP by 29.1% in the second quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock valued at $73,000 after buying an additional 459 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Stock Down 1.2 %

Shares of NYSE BP opened at $28.96 on Wednesday. The stock has a fifty day moving average price of $30.79 and a 200 day moving average price of $33.51. The company has a market cap of $7.84 billion, a P/E ratio of 30.48, a P/E/G ratio of 2.02 and a beta of 0.65. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The business had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. During the same period last year, the business posted $1.15 EPS. The company’s revenue was down 11.3% on a year-over-year basis. Research analysts anticipate that BP p.l.c. will post 3.67 EPS for the current fiscal year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend is Friday, November 8th. BP’s payout ratio is 200.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BP shares. BNP Paribas cut BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Scotiabank cut shares of BP from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $42.00 to $36.00 in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price objective on BP from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Argus upgraded BP to a “hold” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group raised BP to a “strong-buy” rating in a research note on Friday, October 11th. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.73.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.