624,999 Shares in BP p.l.c. $BP Purchased by Kahn Brothers Group Inc.

Kahn Brothers Group Inc. purchased a new stake in BP p.l.c. (NYSE:BP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 624,999 shares of the oil and gas exploration company's stock, valued at approximately $23,094,000. BP accounts for about 0.0% of Kahn Brothers Group Inc.'s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors also recently made changes to their positions in BP. Financial Life Planners acquired a new position in BP in the 1st quarter valued at $39,000. Triumph Capital Management bought a new stake in shares of BP in the third quarter valued at approximately $43,000. LRI Investments LLC increased its stake in BP by 76.2% during the 4th quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company's stock worth $44,000 after acquiring an additional 552 shares during the period. WFA of San Diego LLC acquired a new position in BP in the 2nd quarter valued at $46,000. Finally, Ameriflex Group Inc. lifted its position in shares of BP by 39.1% during the 4th quarter. Ameriflex Group Inc. now owns 1,808 shares of the oil and gas exploration company's stock valued at $63,000 after acquiring an additional 508 shares during the period. Institutional investors own 11.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BP shares. Wall Street Zen upgraded BP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Piper Sandler increased their price objective on shares of BP from $42.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Royal Bank Of Canada upgraded shares of BP from a "sector perform" rating to an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of BP from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, Argus raised shares of BP from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Monday, May 11th. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.36.

BP Stock Down 0.4%

NYSE:BP opened at $42.34 on Friday. BP p.l.c. has a one year low of $32.72 and a one year high of $48.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.27 and a quick ratio of 0.95. The company has a market cap of $110.92 billion, a PE ratio of 20.66, a P/E/G ratio of 0.58 and a beta of 0.16. The firm's 50 day simple moving average is $41.32 and its 200 day simple moving average is $42.52.

BP (NYSE:BP - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The firm had revenue of $69.11 billion during the quarter, compared to the consensus estimate of $57.89 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The company's revenue for the quarter was up 106.1% on a year-over-year basis. On average, research analysts anticipate that BP p.l.c. will post 6.04 earnings per share for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be paid a $0.5196 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from BP's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.9%. BP's payout ratio is currently 100.49%.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP p.l.c. (NYSE:BP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source