Deutsche Bank AG Cuts Stock Position in BP p.l.c. $BP

Deutsche Bank AG lowered its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,597,468 shares of the oil and gas exploration company's stock after selling 91,779 shares during the quarter. Deutsche Bank AG owned 0.10% of BP worth $95,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Perigon Wealth Management LLC boosted its holdings in BP by 7.4% during the 2nd quarter. Perigon Wealth Management LLC now owns 8,762 shares of the oil and gas exploration company's stock valued at $324,000 after acquiring an additional 607 shares during the period. Trust Co. of Vermont purchased a new stake in shares of BP during the second quarter valued at $73,000. OneDigital Investment Advisors LLC boosted its stake in shares of BP by 62.0% during the second quarter. OneDigital Investment Advisors LLC now owns 14,565 shares of the oil and gas exploration company's stock valued at $538,000 after purchasing an additional 5,577 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of BP by 12.2% in the second quarter. Hexagon Capital Partners LLC now owns 10,914 shares of the oil and gas exploration company's stock worth $403,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Wealthspan Partners LLC increased its stake in BP by 45.6% in the 2nd quarter. Wealthspan Partners LLC now owns 12,431 shares of the oil and gas exploration company's stock worth $459,000 after buying an additional 3,892 shares during the period. Institutional investors own 11.01% of the company's stock.

BP Price Performance

Shares of NYSE BP opened at $45.24 on Friday. BP p.l.c. has a fifty-two week low of $32.72 and a fifty-two week high of $48.27. The company has a market cap of $118.50 billion, a PE ratio of 22.07, a P/E/G ratio of 0.60 and a beta of 0.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. The business has a 50-day simple moving average of $41.09 and a two-hundred day simple moving average of $42.35.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 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 analyst estimates of $57.89 billion. During the same period last year, the firm posted $0.90 EPS. BP's revenue was up 106.1% on a year-over-year basis. As a group, equities analysts expect that BP p.l.c. will post 6.04 EPS for the current fiscal year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.5196 per share. The ex-dividend date is Friday, August 14th. This is an increase from BP's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. BP's payout ratio is presently 100.49%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BP. Wells Fargo & Company decreased their price objective on BP from $54.00 to $48.00 and set an "equal weight" rating for the company in a report on Wednesday, August 5th. Mizuho set a $53.00 price objective on shares of BP in a research note on Wednesday, August 5th. Freedom Capital raised shares of BP from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded BP from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Finally, TD Cowen increased their target price on BP from $40.00 to $41.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, BP presently has a consensus rating of "Hold" and a consensus target price of $46.36.

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.

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