BP p.l.c. is an energy industry player, operating through its Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments.
On June 23rd, BP p.l.c. reportedly began production in the Gulf of Mexico through its new Manuel project. The stock is also a regular dividend payer, with a 4.6% dividend yield, making it a good option for income investors.
This July, JP Morgan raised its price target on BP p.l.c. and retained its Overweight rating on the shares. In the first quarter of 2021, BP p.l.c. had an EPS of $0.78, beating estimates by $0.35, while its revenue was $34.54 billion, missing estimates by -$29.73 billion. The company’s gross profit margin is 18%, and the stock has gained 15.25% in the past six months and 29.52% year to date.
As of the end of the first quarter of 2021, of 866 tracked hedge funds, 29 held stakes in BP p.l.c. (NYSE: BP), with a total stake value of about $1.24 billion. This is compared to 29 hedge funds in the previous quarter, with a total stake value of roughly $927 million.
BP p.l.c is a recommended stock to add to your portfolio.
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