BP plc (BP) Holdings Boosted by Sterling Investment Management Inc.

Share on StockTwits

Sterling Investment Management Inc. raised its holdings in BP plc (NYSE:BP) by 15.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 29,674 shares of the oil and gas exploration company’s stock after acquiring an additional 3,977 shares during the quarter. BP accounts for 1.1% of Sterling Investment Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Sterling Investment Management Inc.’s holdings in BP were worth $1,354,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of BP. Shoker Investment Counsel Inc. raised its position in shares of BP by 4.2% during the first quarter. Shoker Investment Counsel Inc. now owns 26,689 shares of the oil and gas exploration company’s stock worth $1,082,000 after purchasing an additional 1,088 shares during the period. Cetera Advisor Networks LLC raised its position in BP by 2.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 50,929 shares of the oil and gas exploration company’s stock valued at $2,056,000 after buying an additional 1,113 shares during the last quarter. Arvest Bank Trust Division raised its position in BP by 14.8% in the 1st quarter. Arvest Bank Trust Division now owns 8,780 shares of the oil and gas exploration company’s stock valued at $356,000 after buying an additional 1,135 shares during the last quarter. Formidable Asset Management LLC raised its position in BP by 8.8% in the 2nd quarter. Formidable Asset Management LLC now owns 14,033 shares of the oil and gas exploration company’s stock valued at $641,000 after buying an additional 1,138 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. raised its position in BP by 0.4% in the 1st quarter. Wilkins Investment Counsel Inc. now owns 263,418 shares of the oil and gas exploration company’s stock valued at $10,679,000 after buying an additional 1,160 shares during the last quarter. 10.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BP opened at $42.30 on Monday. The firm has a market capitalization of $142.98 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90. 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 plc has a 1 year low of $33.90 and a 1 year high of $47.83.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. equities analysts forecast that BP plc will post 3.33 EPS for the current fiscal year.

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

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).

Featured Story: Marijuana Stocks

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).

Institutional Ownership by Quarter for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply