Keybank National Association OH lowered its holdings in BP plc (NYSE:BP) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 163,054 shares of the oil and gas exploration company’s stock after selling 26,918 shares during the quarter. Keybank National Association OH’s holdings in BP were worth $6,799,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BP. FMR LLC lifted its stake in shares of BP by 18.6% in the 1st quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock valued at $1,348,019,000 after purchasing an additional 4,832,518 shares during the period. BlackRock Inc. lifted its stake in shares of BP by 51.5% in the 1st quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock valued at $530,835,000 after purchasing an additional 4,126,312 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of BP by 80.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock valued at $159,705,000 after purchasing an additional 1,631,395 shares during the period. Wells Fargo & Company MN lifted its stake in shares of BP by 20.9% in the 1st quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock valued at $250,090,000 after purchasing an additional 989,753 shares during the period. Finally, Norges Bank purchased a new position in shares of BP in the 4th quarter valued at approximately $32,149,000. Institutional investors and hedge funds own 11.05% of the company’s stock.
BP stock traded down $0.35 on Thursday, reaching $35.91. 338,218 shares of the company traded hands, compared to its average volume of 9,346,120. BP plc has a one year low of $36.15 and a one year high of $47.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.77 and a current ratio of 1.07. The company has a market cap of $122.59 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.15 and a beta of 0.74. The firm’s fifty day simple moving average is $39.64.
A number of research analysts have recently commented on the company. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and raised their target price for the company from $46.30 to $48.60 in a research note on Wednesday, July 31st. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price for the company. in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $51.89.
BP Company Profile
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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