Marietta Investment Partners LLC increased its position in BP plc (NYSE:BP) by 89.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,320 shares of the oil and gas exploration company’s stock after buying an additional 8,200 shares during the quarter. Marietta Investment Partners LLC’s holdings in BP were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. JNBA Financial Advisors increased its stake in BP by 253.5% in the 1st quarter. JNBA Financial Advisors now owns 2,107 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 1,511 shares during the period. Elmwood Wealth Management Inc. purchased a new position in BP in the 1st quarter worth approximately $107,000. Smart Portfolios LLC purchased a new position in BP in the 1st quarter worth approximately $142,000. Clarus Wealth Advisors purchased a new position in BP in the 2nd quarter worth approximately $165,000. Finally, Destination Wealth Management increased its stake in BP by 2,782.4% in the 2nd quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock worth $187,000 after purchasing an additional 3,951 shares during the period. Institutional investors own 10.63% of the company’s stock.
Shares of BP traded up $0.61 during mid-day trading on Wednesday, hitting $43.07. 138,605 shares of the company’s stock traded hands, compared to its average volume of 5,735,731. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. BP plc has a 1 year low of $33.90 and a 1 year high of $47.83. The stock has a market capitalization of $139.38 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 3.14 and a beta of 0.90.
BP (NYSE:BP) last posted its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. BP had a return on equity of 9.28% and a net margin of 2.55%. The firm had revenue of $75.44 billion for the quarter, compared to analysts’ expectations of $82.25 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was up 33.5% compared to the same quarter last year. research analysts forecast that BP plc will post 3.33 EPS for the current fiscal year.
A number of equities analysts have commented on BP shares. Goldman Sachs Group raised BP from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, August 9th. Santander cut BP from a “hold” rating to an “underperform” rating in a research note on Monday, May 21st. HSBC raised BP to a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research cut BP from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada raised BP from an “outperform” rating to a “top pick” rating in a research note on Monday, July 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus 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).
Further Reading: Stock Symbol
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