Cambridge Investment Research Advisors Inc. Sells 4,230 Shares of BP plc (BP)

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Cambridge Investment Research Advisors Inc. lowered its stake in shares of BP plc (NYSE:BP) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 438,651 shares of the oil and gas exploration company’s stock after selling 4,230 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in BP were worth $20,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Shoker Investment Counsel Inc. boosted its stake in 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 buying an additional 1,088 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in BP by 2.2% during the first quarter. Cetera Advisor Networks LLC now owns 50,929 shares of the oil and gas exploration company’s stock worth $2,056,000 after buying an additional 1,113 shares during the last quarter. Arvest Bank Trust Division lifted its stake in shares of 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 purchasing an additional 1,135 shares during the last quarter. Formidable Asset Management LLC lifted its stake in shares of 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 purchasing an additional 1,138 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. lifted its stake in shares of 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 purchasing an additional 1,160 shares during the last quarter. 10.74% of the stock is currently owned by institutional investors.

BP stock opened at $43.39 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.80 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $145.90 billion, a P/E ratio of 23.08, a PEG ratio of 3.25 and a beta of 0.90. BP plc has a 12-month low of $34.21 and a 12-month high of $47.83.

BP (NYSE:BP) last posted 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 the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $75.44 billion for 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 company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. research analysts expect that BP plc will post 3.38 EPS for the current year.

Several brokerages have recently commented on BP. Santander lowered BP from a “hold” rating to an “underperform” rating in a research note on Monday, May 21st. TheStreet raised BP from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. Zacks Investment Research raised BP from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Tuesday, July 10th. Royal Bank of Canada raised BP from an “outperform” rating to a “top pick” rating in a research note on Monday, July 9th. Finally, HSBC raised BP to a “buy” rating in a research note on Monday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. BP presently has an average rating of “Buy” and an average price target of $47.07.

BP 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: Return on Investment (ROI)

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Institutional Ownership by Quarter for BP (NYSE:BP)

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