Kornitzer Capital Management Inc. KS Has $14.28 Million Stock Holdings in BP p.l.c. (NYSE:BP)

Kornitzer Capital Management Inc. KS grew its holdings in shares of BP p.l.c. (NYSE:BP) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,980 shares of the oil and gas exploration company’s stock after purchasing an additional 23,325 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in BP were worth $14,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Beaumont Financial Advisors LLC acquired a new position in BP in the 1st quarter valued at $6,682,000. Wedge Capital Management L L P NC increased its stake in shares of BP by 26.7% in the second quarter. Wedge Capital Management L L P NC now owns 629,568 shares of the oil and gas exploration company’s stock worth $22,727,000 after purchasing an additional 132,750 shares during the period. Rothschild Investment LLC bought a new stake in BP during the 2nd quarter valued at approximately $2,620,000. SG Americas Securities LLC increased its position in BP by 860.7% in the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock worth $2,086,000 after buying an additional 59,546 shares during the period. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of BP by 147.9% in the second quarter. Sanibel Captiva Trust Company Inc. now owns 43,063 shares of the oil and gas exploration company’s stock valued at $1,555,000 after acquiring an additional 25,690 shares during the period. 11.01% of the stock is currently owned by institutional investors.

BP Price Performance

NYSE BP traded up $0.04 during trading hours on Thursday, reaching $30.20. 1,583,339 shares of the company’s stock were exchanged, compared to its average volume of 8,427,030. The firm has a fifty day moving average of $31.72 and a 200-day moving average of $34.48. 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 p.l.c. has a one year low of $29.00 and a one year high of $40.40. The stock has a market cap of $81.92 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.97 and a beta of 0.65.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The business had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.15 earnings per share. On average, equities research analysts predict that BP p.l.c. will post 3.71 earnings per share for the current fiscal year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, November 8th. BP’s dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

A number of analysts have weighed in on BP shares. Wells Fargo & Company reduced their price target on shares of BP from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Evercore ISI raised BP to a “strong-buy” rating in a report on Wednesday, July 31st. UBS Group upgraded BP to a “strong-buy” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised BP to a “strong-buy” rating in a research report on Friday, October 11th. Finally, BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, BP presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.73.

About BP

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.