BP plc (BP) Holdings Trimmed by Point72 Asset Management L.P.

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Point72 Asset Management L.P. lowered its stake in shares of BP plc (NYSE:BP) by 89.1% during the second quarter, HoldingsChannel.com reports. The firm owned 200,300 shares of the oil and gas exploration company’s stock after selling 1,643,479 shares during the period. Point72 Asset Management L.P.’s holdings in BP were worth $9,146,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Shoker Investment Counsel Inc. raised its stake in shares of BP by 4.2% in the 1st quarter. Shoker Investment Counsel Inc. now owns 26,689 shares of the oil and gas exploration company’s stock valued at $1,082,000 after acquiring an additional 1,088 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of 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 acquiring an additional 1,113 shares during the period. Arvest Bank Trust Division increased its stake in BP by 14.8% during the 1st quarter. Arvest Bank Trust Division now owns 8,780 shares of the oil and gas exploration company’s stock worth $356,000 after buying an additional 1,135 shares during the period. Formidable Asset Management LLC increased its stake in BP by 8.8% during the 2nd quarter. Formidable Asset Management LLC now owns 14,033 shares of the oil and gas exploration company’s stock worth $641,000 after buying an additional 1,138 shares during the period. Finally, Wilkins Investment Counsel Inc. increased its stake in BP by 0.4% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 263,418 shares of the oil and gas exploration company’s stock worth $10,679,000 after buying an additional 1,160 shares during the period. 10.71% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on BP shares. Goldman Sachs Group raised shares of BP from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, August 9th. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, September 5th. Santander downgraded shares of BP from a “hold” rating to an “underperform” rating in a research note on Monday, May 21st. HSBC raised shares of BP to a “buy” rating in a research note on Monday, July 30th. Finally, Royal Bank of Canada raised shares of BP from an “outperform” rating to a “top pick” rating in a research note on Monday, July 9th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. BP presently has a consensus rating of “Buy” and an average target price of $47.07.

Shares of BP stock opened at $43.26 on Friday. The firm has a market cap of $143.37 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 3.17 and a beta of 0.91. 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 $36.15 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 for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $75.44 billion during the quarter, compared to analyst estimates of $82.25 billion. BP had a net margin of 2.55% and a return on equity of 9.28%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. equities analysts forecast that BP plc will post 3.4 earnings per share for the current fiscal year.

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).

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Institutional Ownership by Quarter for BP (NYSE:BP)

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