BP p.l.c. (BP) Short Interest Down 14.5% in June

BP p.l.c. (NYSE:BP) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 17,102,586 shares, a drop of 14.5% from the May 31st total of 20,012,032 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average trading volume of 5,734,979 shares, the short-interest ratio is presently 3.0 days.

Several equities research analysts recently issued reports on BP shares. Morgan Stanley reaffirmed a “buy” rating on shares of BP p.l.c. in a research note on Thursday, April 13th. Scotiabank reaffirmed a “buy” rating and set a $38.00 price target on shares of BP p.l.c. in a research note on Monday, March 27th. Macquarie downgraded shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of BP p.l.c. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 11th. Finally, Simmons lifted their price target on shares of BP p.l.c. from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.10.

A number of large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in BP p.l.c. during the first quarter valued at approximately $106,000. Crestwood Advisors Group LLC acquired a new stake in BP p.l.c. during the first quarter valued at approximately $114,000. Pictet North America Advisors SA purchased a new stake in shares of BP p.l.c. during the first quarter worth about $128,000. Finally, IHT Wealth Management LLC raised its stake in shares of BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock worth $135,000 after buying an additional 689 shares during the period. 9.99% of the stock is currently owned by hedge funds and other institutional investors.

BP p.l.c. (BP) opened at 34.92 on Tuesday. The firm has a market capitalization of $114.45 billion, a price-to-earnings ratio of 51.96 and a beta of 0.94. The firm’s 50-day moving average is $35.80 and its 200-day moving average is $35.41. BP p.l.c. has a 1-year low of $32.50 and a 1-year high of $38.68.

BP p.l.c. (NYSE:BP) last posted its earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. BP p.l.c. had a net margin of 1.06% and a return on equity of 3.72%. The business had revenue of $55.86 billion for the quarter, compared to analyst estimates of $59.87 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 45.1% compared to the same quarter last year. On average, equities analysts anticipate that BP p.l.c. will post $1.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, May 12th were issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date was Wednesday, May 10th. BP p.l.c.’s dividend payout ratio is currently 366.16%.

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BP p.l.c. Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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