Miles Capital Inc. cut its position in shares of BP plc (NYSE:BP) by 7.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,010 shares of the oil and gas exploration company’s stock after selling 478 shares during the quarter. Miles Capital Inc.’s holdings in BP were worth $251,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BP. SG Americas Securities LLC increased its position in BP by 120.8% in the first quarter. SG Americas Securities LLC now owns 12,498 shares of the oil and gas exploration company’s stock worth $546,000 after buying an additional 72,723 shares during the period. Cornerstone Advisors Inc. boosted its stake in BP by 54.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,048 shares of the oil and gas exploration company’s stock valued at $90,000 after buying an additional 723 shares in the last quarter. Chemical Bank boosted its stake in BP by 13.7% in the 1st quarter. Chemical Bank now owns 6,815 shares of the oil and gas exploration company’s stock valued at $298,000 after buying an additional 820 shares in the last quarter. Hanson McClain Inc. boosted its stake in BP by 9.0% in the 1st quarter. Hanson McClain Inc. now owns 6,209 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 512 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in BP by 15.5% in the 1st quarter. Independent Advisor Alliance now owns 47,459 shares of the oil and gas exploration company’s stock valued at $2,075,000 after purchasing an additional 6,363 shares during the last quarter. 10.77% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BP traded up $0.28 on Friday, reaching $37.95. The company’s stock had a trading volume of 319,029 shares, compared to its average volume of 5,810,820. BP plc has a 1-year low of $35.73 and a 1-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 firm has a market cap of $128.49 billion, a PE ratio of 9.98, a PEG ratio of 1.23 and a beta of 0.77. The business’s 50-day moving average price is $37.42 and its two-hundred day moving average price is $41.21.
BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.05. The company had revenue of $73.75 billion during 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, sell-side analysts expect that BP plc will post 3.06 EPS for the current year.
BP has been the subject of a number of analyst reports. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.30 to $48.60 in a research note on Wednesday, July 31st. BMO Capital Markets assumed coverage on BP in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 target price for the company. 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. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BP in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $52.04.
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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