First Citizens Bank & Trust Co. Has $281,000 Holdings in BP plc (BP)

First Citizens Bank & Trust Co. lessened its stake in shares of BP plc (NYSE:BP) by 17.2% during the first quarter, Holdings Channel reports. The institutional investor owned 6,427 shares of the oil and gas exploration company’s stock after selling 1,337 shares during the period. First Citizens Bank & Trust Co.’s holdings in BP were worth $281,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in BP during the 1st quarter valued at $117,000. Atlas Brown Inc. grew its holdings in BP by 1.4% during the 1st quarter. Atlas Brown Inc. now owns 34,623 shares of the oil and gas exploration company’s stock valued at $1,514,000 after buying an additional 474 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in BP by 7.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 35,053 shares of the oil and gas exploration company’s stock valued at $1,533,000 after buying an additional 2,301 shares during the last quarter. Davis Rea LTD. acquired a new stake in BP during the 1st quarter valued at $213,000. Finally, Ingalls & Snyder LLC grew its holdings in BP by 8.8% during the 1st quarter. Ingalls & Snyder LLC now owns 26,995 shares of the oil and gas exploration company’s stock valued at $1,180,000 after buying an additional 2,175 shares during the last quarter. Hedge funds and other institutional investors own 10.80% of the company’s stock.

Shares of BP stock opened at $44.48 on Wednesday. BP plc has a fifty-two week low of $36.28 and a fifty-two week high of $47.83. The firm has a market cap of $149.34 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.98 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.04.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.27. BP had a return on equity of 12.45% and a net margin of 3.09%. The company had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. During the same quarter in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that BP plc will post 3.18 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, February 15th were paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend was Thursday, February 14th. BP’s dividend payout ratio is presently 64.21%.

A number of brokerages have weighed in on BP. Wells Fargo & Co began coverage on BP in a research note on Tuesday, December 18th. They set a “market perform” rating and a $41.00 price target on the stock. Zacks Investment Research lowered BP from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank reissued a “buy” rating on shares of BP in a research note on Thursday, March 7th. Finally, Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target on the stock. in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.13.

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BP 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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Institutional Ownership by Quarter for BP (NYSE:BP)

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