OppenheimerFunds Inc. Has $97.13 Million Position in BP plc (BP)

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OppenheimerFunds Inc. raised its position in shares of BP plc (NYSE:BP) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,127,299 shares of the oil and gas exploration company’s stock after buying an additional 185,714 shares during the period. OppenheimerFunds Inc. owned about 0.06% of BP worth $97,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BP. Dimensional Fund Advisors LP boosted its holdings in BP by 12.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,017,112 shares of the oil and gas exploration company’s stock valued at $852,034,000 after purchasing an additional 2,406,870 shares during the period. FMR LLC boosted its holdings in BP by 88.5% in the second quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock valued at $735,292,000 after purchasing an additional 7,562,842 shares during the period. Renaissance Technologies LLC boosted its holdings in BP by 23.4% in the second quarter. Renaissance Technologies LLC now owns 9,057,544 shares of the oil and gas exploration company’s stock valued at $413,567,000 after purchasing an additional 1,714,700 shares during the period. BlackRock Inc. boosted its holdings in BP by 27.5% in the second quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after purchasing an additional 1,191,854 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in 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. Institutional investors and hedge funds own 10.74% of the company’s stock.

BP stock opened at $42.03 on Friday. BP plc has a 1-year low of $35.24 and a 1-year high of $47.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. The firm has a market capitalization of $140.38 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.91.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.85. BP had a return on equity of 9.28% and a net margin of 2.55%. The company had revenue of $75.44 billion for the quarter, compared to analysts’ expectations of $82.25 billion. During the same period last year, the firm earned $0.21 earnings per share. BP’s quarterly revenue was up 33.5% on a year-over-year basis. analysts anticipate that BP plc will post 3.4 earnings per share for the current fiscal year.

A number of research firms recently issued reports on BP. Zacks Investment Research upgraded BP from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Tuesday, July 10th. Santander upgraded BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. TheStreet upgraded BP from a “c+” rating to a “b-” rating in a report on Monday, May 21st. ValuEngine lowered BP from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of BP in a report on Tuesday, May 29th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.07.

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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