Parametric Portfolio Associates LLC raised its holdings in shares of BP plc (NYSE:BP) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,805,770 shares of the oil and gas exploration company’s stock after purchasing an additional 289,108 shares during the quarter. Parametric Portfolio Associates LLC owned 0.11% of BP worth $158,701,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BP. Focused Wealth Management Inc acquired a new position in shares of BP during the second quarter valued at approximately $25,000. Marino Stram & Associates LLC lifted its position in shares of BP by 71.0% in the 1st 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 stake in shares of BP during the 2nd quarter worth approximately $36,000. Next Capital Management LLC bought a new stake in shares of BP during the second quarter valued at approximately $38,000. Finally, Manchester Financial Inc. acquired a new position in shares of BP in the second quarter valued at $40,000. Institutional investors own 10.77% of the company’s stock.
BP has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of BP in a report on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 price target on the stock. Credit Suisse Group downgraded shares of BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price on the stock. in a research note on Wednesday, July 10th. Grupo Santander raised shares of BP from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP in a research report on Friday, August 30th. Finally, Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.30 to $48.60 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.04.
BP traded down $0.04 during mid-day trading on Wednesday, reaching $37.80. The stock had a trading volume of 596,366 shares, compared to its average volume of 5,956,819. The stock has a market capitalization of $127.33 billion, a P/E ratio of 9.95, a P/E/G ratio of 1.22 and a beta of 0.77. 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 firm’s fifty day simple moving average is $37.45 and its two-hundred day simple moving average is $41.24. BP plc has a 52 week low of $35.73 and a 52 week high of $47.16.
BP (NYSE:BP) last posted 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. The business had revenue of $73.75 billion for the quarter, compared to analysts’ expectations of $79.79 billion. BP had a return on equity of 12.12% and a net margin of 2.97%. As a group, 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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