GAMMA Investing LLC Has $7.02 Million Stock Position in BP p.l.c. (NYSE:BP)

GAMMA Investing LLC boosted its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 5,751.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,606 shares of the oil and gas exploration company's stock after purchasing an additional 204,058 shares during the period. GAMMA Investing LLC's holdings in BP were worth $7,015,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of BP by 333.0% in the 1st quarter. Versant Capital Management Inc now owns 9,618 shares of the oil and gas exploration company's stock worth $325,000 after purchasing an additional 7,397 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in BP during the first quarter worth about $203,000. Emprise Bank acquired a new stake in shares of BP during the first quarter worth approximately $204,000. Mascagni Wealth Management Inc. bought a new position in shares of BP in the fourth quarter valued at approximately $33,000. Finally, Sunbelt Securities Inc. grew its position in BP by 3.3% during the 4th quarter. Sunbelt Securities Inc. now owns 11,839 shares of the oil and gas exploration company's stock worth $344,000 after acquiring an additional 380 shares during the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BP. TD Securities reiterated a "hold" rating and set a $36.00 target price (down from $40.00) on shares of BP in a research report on Wednesday, March 19th. UBS Group cut BP from a "buy" rating to a "neutral" rating in a research note on Thursday, April 10th. Morgan Stanley cut shares of BP from an "equal weight" rating to an "underweight" rating and set a $26.50 price target for the company. in a report on Monday, May 12th. Wells Fargo & Company raised their price objective on shares of BP from $30.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised shares of BP from an "underweight" rating to a "neutral" rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $35.28.

BP Stock Performance

Shares of BP stock traded up $0.12 on Thursday, reaching $30.93. The stock had a trading volume of 7,942,598 shares, compared to its average volume of 9,781,430. BP p.l.c. has a 12 month low of $25.22 and a 12 month high of $37.39. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $83.97 billion, a price-to-earnings ratio of 386.67, a P/E/G ratio of 1.12 and a beta of 0.54. The firm's 50-day moving average is $28.67 and its two-hundred day moving average is $30.59.

BP (NYSE:BP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The business had revenue of $46.91 billion during the quarter, compared to analyst estimates of $40.12 billion. BP had a net margin of 0.20% and a return on equity of 10.96%. The business's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, research analysts expect that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Friday, May 16th. BP's payout ratio is -413.04%.

BP 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.