TD Waterhouse Canada Inc. Buys 95,896 Shares of BP p.l.c. $BP

by · The Cerbat Gem

TD Waterhouse Canada Inc. increased its stake in shares of BP p.l.c. (NYSE:BP – Free Report) by 611.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,585 shares of the oil and gas exploration company’s stock after buying an additional 95,896 shares during the period. TD Waterhouse Canada Inc.’s holdings in BP were worth $4,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC increased its stake in shares of BP by 2.9% during the 2nd quarter. HBK Sorce Advisory LLC now owns 11,424 shares of the oil and gas exploration company’s stock worth $422,000 after purchasing an additional 317 shares during the last quarter. Wedmont Private Capital lifted its stake in BP by 4.5% in the third quarter. Wedmont Private Capital now owns 7,478 shares of the oil and gas exploration company’s stock valued at $347,000 after purchasing an additional 320 shares during the last quarter. Venture Visionary Partners LLC lifted its stake in BP by 1.3% in the third quarter. Venture Visionary Partners LLC now owns 26,991 shares of the oil and gas exploration company’s stock valued at $1,187,000 after purchasing an additional 349 shares during the last quarter. Versant Capital Management Inc grew its holdings in BP by 4.5% during the third quarter. Versant Capital Management Inc now owns 8,310 shares of the oil and gas exploration company’s stock valued at $366,000 after purchasing an additional 357 shares during the period. Finally, Atlas Brown Inc. grew its holdings in BP by 1.0% during the second quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company’s stock valued at $1,364,000 after purchasing an additional 370 shares during the period. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Freedom Capital upgraded BP from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 6th. Citigroup started coverage on BP in a report on Thursday, October 1st. They issued a “buy” rating for the company. Weiss Ratings upgraded BP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of BP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, UBS Group lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.31.

View Our Latest Analysis on BP

BP Price Performance

NYSE:BP opened at $49.45 on Tuesday. BP p.l.c. has a 52-week low of $32.92 and a 52-week high of $50.27. The stock has a fifty day moving average of $44.77 and a 200 day moving average of $43.62. 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 firm has a market capitalization of $129.53 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 0.48 and a beta of 0.20.

BP (NYSE:BP – Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.87 by $0.35. The business had revenue of $69.11 billion during the quarter, compared to analysts’ expectations of $57.89 billion. BP had a return on equity of 16.63% and a net margin of 2.49%. The firm’s revenue was up 106.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. On average, research analysts expect that BP p.l.c. will post 7.73 EPS for the current fiscal year.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were issued a dividend of $0.5196 per share. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from BP’s previous quarterly dividend of $0.4992. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. BP’s payout ratio is presently 100.49%.

About BP

(Free Report)

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.

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