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

Quantbot Technologies LP purchased a new position in shares of BP p.l.c. (NYSE:BP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 162,111 shares of the oil and gas exploration company’s stock, valued at approximately $5,089,000.

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

Analyst Upgrades and Downgrades

BP has been the subject of several recent analyst reports. Evercore ISI raised shares of BP to a “strong-buy” rating in a report on Wednesday, July 31st. BNP Paribas lowered BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Argus raised BP to a “hold” rating in a research note on Thursday, August 1st. Finally, HSBC cut shares of BP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.73.

BP Stock Down 1.2 %

NYSE:BP opened at $28.96 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.65. BP p.l.c. has a 52 week low of $27.82 and a 52 week high of $40.40. The stock’s fifty day moving average is $30.79 and its two-hundred day moving average is $33.51.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The company had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. Research analysts anticipate that BP p.l.c. will post 3.67 EPS for the current year.

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 8th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Friday, November 8th. BP’s payout ratio is currently 200.00%.

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.