Private Asset Management Inc. Sells 15,132 Shares of BP plc (NYSE:BP)

Private Asset Management Inc. cut its holdings in BP plc (NYSE:BP) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,866 shares of the oil and gas exploration company’s stock after selling 15,132 shares during the quarter. Private Asset Management Inc.’s holdings in BP were worth $6,131,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in BP by 22.2% during the third quarter. Sterling Capital Management LLC now owns 17,434 shares of the oil and gas exploration company’s stock worth $670,000 after buying an additional 3,164 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of BP by 3.7% during the third quarter. Wedge Capital Management L L P NC now owns 369,940 shares of the oil and gas exploration company’s stock valued at $14,217,000 after purchasing an additional 13,323 shares during the period. Atlantic Trust Group LLC boosted its stake in shares of BP by 24.5% during the second quarter. Atlantic Trust Group LLC now owns 57,428 shares of the oil and gas exploration company’s stock valued at $1,991,000 after purchasing an additional 11,295 shares during the period. Zions Bancorporation boosted its stake in shares of BP by 607.3% during the third quarter. Zions Bancorporation now owns 31,056 shares of the oil and gas exploration company’s stock valued at $1,193,000 after purchasing an additional 26,665 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of BP by 6.7% during the third quarter. Assetmark Inc. now owns 93,251 shares of the oil and gas exploration company’s stock valued at $3,584,000 after purchasing an additional 5,839 shares during the period. 9.94% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised shares of BP from a “market perform” rating to an “outperform” rating in a research note on Monday, September 18th. Kepler Capital Markets raised shares of BP from a “reduce” rating to a “hold” rating in a research note on Tuesday, October 3rd. Vetr lowered shares of BP from a “strong-buy” rating to a “buy” rating and set a $43.32 target price for the company. in a research note on Wednesday, October 4th. Cowen restated a “hold” rating and issued a $39.00 price objective on shares of BP in a report on Tuesday, October 24th. Finally, TheStreet upgraded BP from a “c” rating to a “b” rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. BP has a consensus rating of “Hold” and a consensus price target of $38.63.

Shares of BP plc (NYSE:BP) traded up $0.64 during trading on Friday, reaching $43.91. 5,648,959 shares of the company’s stock were exchanged, compared to its average volume of 4,621,573. The company has a market capitalization of $145,050.00, a P/E ratio of 37.53, a PEG ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 0.88. BP plc has a fifty-two week low of $33.10 and a fifty-two week high of $43.99.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, November 10th were issued a $0.60 dividend. The ex-dividend date was Thursday, November 9th. This is an increase from BP’s previous quarterly dividend of $0.60. This represents a $2.40 dividend on an annualized basis and a yield of 5.47%. BP’s payout ratio is currently 203.42%.

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BP 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.

Institutional Ownership by Quarter for BP (NYSE:BP)

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