Quantbot Technologies LP Invests $5.09 Million in BP p.l.c. (NYSE:BP)

Quantbot Technologies LP acquired a new position in shares of BP p.l.c. (NYSE:BP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 162,111 shares of the oil and gas exploration company's stock, valued at approximately $5,089,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BP. LRI Investments LLC purchased a new position in BP during the 1st quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BP in the 2nd quarter valued at approximately $33,000. Quent Capital LLC purchased a new position in BP during the second quarter worth $38,000. Independence Bank of Kentucky raised its holdings in shares of BP by 85.7% in the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company's stock worth $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its position in shares of BP by 29.1% in the second quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company's stock valued at $73,000 after acquiring an additional 459 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Stock Up 0.6 %

NYSE BP traded up $0.17 during mid-day trading on Wednesday, reaching $29.13. 6,879,798 shares of the company's stock traded hands, compared to its average volume of 8,665,128. The company has a fifty day simple moving average of $30.72 and a 200-day simple moving average of $33.47. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.00 and a beta of 0.65. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.05. The business had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The business's revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. As a group, equities research analysts expect that BP p.l.c. will post 3.66 EPS for the current year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 6.59%. The ex-dividend date is Friday, November 8th. BP's dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

BP has been the subject of several analyst reports. Royal Bank of Canada downgraded shares of BP from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, August 7th. UBS Group raised shares of BP to a "strong-buy" rating in a research note on Tuesday, July 30th. The Goldman Sachs Group upgraded BP to a "strong-buy" rating in a research note on Friday, October 11th. Redburn Atlantic cut shares of BP from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 24th. Finally, StockNews.com raised shares of BP from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, BP has an average rating of "Moderate Buy" and a consensus target price of $42.73.

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.