Montag A & Associates Inc. Has $2.72 Million Holdings in BP plc (NYSE:BP)

Montag A & Associates Inc. lowered its position in shares of BP plc (NYSE:BP) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 71,696 shares of the oil and gas exploration company’s stock after selling 3,707 shares during the quarter. Montag A & Associates Inc.’s holdings in BP were worth $2,724,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BP. Focused Wealth Management Inc purchased a new position in BP during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in BP during the third quarter valued at approximately $25,000. Horan Securities Inc. grew its position in BP by 39.5% during the third quarter. Horan Securities Inc. now owns 933 shares of the oil and gas exploration company’s stock valued at $35,000 after purchasing an additional 264 shares in the last quarter. Rocky Mountain Advisers LLC purchased a new position in BP during the second quarter valued at approximately $36,000. Finally, Horan Capital Advisors LLC. purchased a new position in BP during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 10.78% of the company’s stock.

BP stock traded down $0.13 during trading hours on Friday, hitting $39.19. The company’s stock had a trading volume of 6,955,769 shares, compared to its average volume of 6,209,801. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $133.51 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.75. BP plc has a 12 month low of $35.73 and a 12 month high of $45.38. The stock has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $39.64.

A number of research analysts recently commented on the stock. DZ Bank lowered their price objective on shares of BP from $620.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP in a research report on Wednesday, October 23rd. Societe Generale lowered their price objective on shares of BP from $570.00 to $560.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of BP from $700.00 to $650.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating on shares of BP in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $273.43.

About BP

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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Institutional Ownership by Quarter for BP (NYSE:BP)

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