Private Asset Management Inc. raised its position in BP plc (NYSE:BP) by 1.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 170,929 shares of the oil and gas exploration company’s stock after buying an additional 2,825 shares during the quarter. BP comprises about 1.2% of Private Asset Management Inc.’s holdings, making the stock its 28th largest position. Private Asset Management Inc.’s holdings in BP were worth $7,128,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. First Trust Advisors LP lifted its position in shares of BP by 61.2% during the fourth quarter. First Trust Advisors LP now owns 23,737 shares of the oil and gas exploration company’s stock worth $900,000 after acquiring an additional 9,010 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BP by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 95,330 shares of the oil and gas exploration company’s stock worth $3,614,000 after purchasing an additional 635 shares during the period. Squarepoint Ops LLC bought a new position in shares of BP in the fourth quarter worth $1,215,000. Segall Bryant & Hamill LLC increased its holdings in shares of BP by 7.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 33,079 shares of the oil and gas exploration company’s stock worth $1,254,000 after purchasing an additional 2,210 shares during the period. Finally, Hancock Whitney Corp bought a new position in shares of BP in the fourth quarter worth $255,000. 11.02% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on BP shares. ValuEngine cut shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. Credit Suisse Group started coverage on shares of LTC Properties in a report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 price target on the stock. Finally, Royal Bank of Canada started coverage on shares of Robert Half International in a report on Tuesday, April 16th. They issued a “sector perform” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $52.54.
Shares of BP stock traded up $0.12 during trading on Tuesday, hitting $39.47. The stock had a trading volume of 6,508,612 shares, compared to its average volume of 5,369,481. The stock has a market capitalization of $132.79 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. BP plc has a 12 month low of $36.28 and a 12 month high of $47.16. The company’s 50-day moving average price is $41.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02.
BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $66.32 billion for the quarter, compared to analysts’ expectations of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, sell-side analysts expect that BP plc will post 3.16 earnings per share for the current fiscal year.
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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