Goldentree Asset Management LP acquired a new position in shares of BP plc (NYSE:BP) during the 4th quarter, Holdings Channel reports. The fund acquired 287,370 shares of the oil and gas exploration company’s stock, valued at approximately $12,078,000. BP comprises approximately 1.3% of Goldentree Asset Management LP’s holdings, making the stock its 14th largest holding.
A number of other large investors have also bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in BP by 0.9% during the third quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after acquiring an additional 61,668 shares in the last quarter. Acadian Asset Management LLC boosted its stake in BP by 17.3% during the fourth quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock worth $270,881,000 after acquiring an additional 950,489 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in BP by 0.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 6,386,885 shares of the oil and gas exploration company’s stock worth $268,441,000 after acquiring an additional 32,693 shares in the last quarter. Renaissance Technologies LLC boosted its stake in BP by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock worth $243,822,000 after acquiring an additional 3,155,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in BP by 15.7% during the fourth quarter. Russell Investments Group Ltd. now owns 4,727,733 shares of the oil and gas exploration company’s stock worth $197,908,000 after acquiring an additional 641,751 shares in the last quarter. 10.16% of the stock is currently owned by institutional investors and hedge funds.
BP plc (NYSE BP) opened at $39.66 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. BP plc has a twelve month low of $33.28 and a twelve month high of $44.62. The firm has a market cap of $131,261.52, a P/E ratio of 38.88, a PEG ratio of 0.78 and a beta of 0.98.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 6.05%. BP’s payout ratio is 233.34%.
Several research firms recently commented on BP. Zacks Investment Research raised shares of BP from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, March 6th. Vetr downgraded shares of BP from a “strong-buy” rating to a “buy” rating and set a $44.43 target price on the stock. in a research note on Monday, February 26th. Royal Bank of Canada upgraded shares of BP from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $33.10 to $40.10 in a research note on Monday, February 26th. Morgan Stanley downgraded shares of BP from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $51.00 target price on shares of BP in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. BP has a consensus rating of “Hold” and an average target price of $40.26.
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BP 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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