BP plc (BP) Stake Decreased by Carret Asset Management LLC

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Carret Asset Management LLC trimmed its stake in shares of BP plc (NYSE:BP) by 35.2% in the second quarter, HoldingsChannel.com reports. The fund owned 12,894 shares of the oil and gas exploration company’s stock after selling 7,003 shares during the quarter. Carret Asset Management LLC’s holdings in BP were worth $589,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BP. People s United Financial Inc. lifted its position in shares of BP by 7.3% during the 2nd quarter. People s United Financial Inc. now owns 45,271 shares of the oil and gas exploration company’s stock worth $2,067,000 after buying an additional 3,096 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of BP by 24.6% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 32,696 shares of the oil and gas exploration company’s stock worth $1,493,000 after buying an additional 6,452 shares during the last quarter. CIBC World Markets Inc. lifted its position in shares of BP by 62.8% during the 2nd quarter. CIBC World Markets Inc. now owns 263,556 shares of the oil and gas exploration company’s stock worth $12,034,000 after buying an additional 101,665 shares during the last quarter. Doyle Wealth Management bought a new stake in shares of BP during the 2nd quarter worth $208,000. Finally, Usca Ria LLC lifted its position in shares of BP by 2.8% during the 2nd quarter. Usca Ria LLC now owns 75,630 shares of the oil and gas exploration company’s stock worth $3,453,000 after buying an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 10.06% of the company’s stock.

BP stock opened at $41.91 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $142.98 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 3.22 and a beta of 0.90. BP plc has a 12 month low of $33.90 and a 12 month high of $47.83.

BP (NYSE:BP) last posted its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $75.44 billion during the quarter, compared to the consensus estimate of $82.25 billion. BP had a return on equity of 9.28% and a net margin of 2.55%. The business’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. research analysts anticipate that BP plc will post 3.33 EPS for the current year.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded BP from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. TheStreet upgraded BP from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. ValuEngine downgraded BP from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Goldman Sachs Group reiterated a “buy” rating on shares of BP in a research report on Tuesday, May 29th. Finally, Macquarie upgraded BP from an “underperform” rating to a “neutral” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. BP currently has an average rating of “Buy” and an average target price of $45.84.

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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