BP plc (BP) Stake Raised by Formidable Asset Management LLC

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Formidable Asset Management LLC grew its position in BP plc (NYSE:BP) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,033 shares of the oil and gas exploration company’s stock after purchasing an additional 1,138 shares during the period. Formidable Asset Management LLC’s holdings in BP were worth $641,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of BP by 10.0% in the fourth quarter. Geode Capital Management LLC now owns 75,180 shares of the oil and gas exploration company’s stock valued at $3,159,000 after purchasing an additional 6,839 shares during the period. HL Financial Services LLC boosted its holdings in shares of BP by 14.6% in the first quarter. HL Financial Services LLC now owns 115,930 shares of the oil and gas exploration company’s stock valued at $4,700,000 after purchasing an additional 14,805 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of BP by 10.0% in the first quarter. Wells Fargo & Company MN now owns 4,303,158 shares of the oil and gas exploration company’s stock valued at $174,450,000 after purchasing an additional 392,966 shares during the period. FTB Advisors Inc. boosted its holdings in shares of BP by 21.2% in the first quarter. FTB Advisors Inc. now owns 8,800 shares of the oil and gas exploration company’s stock valued at $373,000 after purchasing an additional 1,537 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of BP by 161.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 15,579 shares of the oil and gas exploration company’s stock valued at $632,000 after purchasing an additional 9,612 shares during the period. Institutional investors own 10.06% of the company’s stock.

BP has been the subject of a number of research reports. Goldman Sachs Group upgraded BP from a “buy” rating to a “conviction-buy” rating in a report on Thursday, August 9th. Santander lowered BP from a “hold” rating to an “underperform” rating in a report on Monday, May 21st. HSBC upgraded BP to a “buy” rating in a report on Monday, July 30th. Zacks Investment Research lowered BP from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Royal Bank of Canada upgraded BP from an “outperform” rating to a “top pick” rating in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.84.

Shares of NYSE:BP opened at $41.91 on Friday. The company has a market capitalization of $142.98 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90. BP plc has a 52 week low of $33.90 and a 52 week high of $47.83. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 0.49.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $75.44 billion during the quarter, compared to the consensus estimate of $82.25 billion. BP had a net margin of 2.55% and a return on equity of 9.28%. BP’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. sell-side analysts predict that BP plc will post 3.33 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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Institutional Ownership by Quarter for BP (NYSE:BP)

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