Private Portfolio Partners LLC raised its holdings in BP plc (NYSE:BP) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,311 shares of the oil and gas exploration company’s stock after purchasing an additional 453 shares during the quarter. Private Portfolio Partners LLC’s holdings in BP were worth $555,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in shares of BP during the second quarter worth about $25,000. Marino Stram & Associates LLC increased its stake in shares of BP by 71.0% during the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock worth $29,000 after acquiring an additional 277 shares during the period. Rocky Mountain Advisers LLC acquired a new position in shares of BP during the second quarter worth about $36,000. Next Capital Management LLC acquired a new position in shares of BP during the second quarter worth about $38,000. Finally, Manchester Financial Inc. acquired a new position in shares of BP during the second quarter worth about $40,000. Institutional investors own 10.72% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Kepler Capital Markets reiterated a “buy” rating on shares of BP in a research note on Monday. ValuEngine downgraded shares of BP from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BP in a report on Friday, August 30th. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.30 to $48.60 in a report on Wednesday, July 31st. Finally, BMO Capital Markets began coverage on shares of BP in a report on Tuesday, August 20th. They set an “outperform” rating and a $53.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $52.04.
Shares of NYSE BP traded up $0.19 on Wednesday, hitting $38.73. The company’s stock had a trading volume of 180,447 shares, compared to its average volume of 5,638,927. BP plc has a 12-month low of $35.73 and a 12-month high of $47.16. The company has a market capitalization of $128.59 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.07 and a quick ratio of 0.77. The stock has a 50 day moving average of $37.35 and a 200-day moving average of $41.11.
BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.05. BP had a net margin of 2.97% and a return on equity of 12.12%. The company had revenue of $73.75 billion for the quarter, compared to the consensus estimate of $79.79 billion. Sell-side analysts expect that BP plc will post 3.06 EPS for the current fiscal year.
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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