Financial Counselors Inc. Sells 8,084 Shares of BP plc (BP)

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Financial Counselors Inc. trimmed its stake in shares of BP plc (NYSE:BP) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 204,924 shares of the oil and gas exploration company’s stock after selling 8,084 shares during the period. Financial Counselors Inc.’s holdings in BP were worth $9,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Squar Milner Financial Services LLC boosted its holdings in shares of BP by 250.4% in the 3rd quarter. Squar Milner Financial Services LLC now owns 2,835 shares of the oil and gas exploration company’s stock worth $131,000 after acquiring an additional 2,026 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of BP by 1,375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock worth $135,000 after acquiring an additional 2,750 shares in the last quarter. Clarus Wealth Advisors acquired a new position in shares of BP in the 2nd quarter worth approximately $165,000. Destination Wealth Management boosted its holdings in shares of 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 acquiring an additional 3,951 shares in the last quarter. Finally, Wall Street Access Asset Management LLC acquired a new position in shares of BP in the 3rd quarter worth approximately $201,000. 10.72% of the stock is currently owned by institutional investors.

NYSE:BP opened at $42.21 on Wednesday. BP plc has a 52-week low of $36.15 and a 52-week 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 cap of $136.69 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 0.67 and a beta of 0.90.

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, hitting the 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 the consensus estimate of $82.25 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. On average, analysts expect that BP plc will post 3.4 earnings per share for the current year.

Several brokerages have recently commented on BP. Piper Jaffray Companies reissued an “overweight” rating on shares of BP in a report on Tuesday, October 23rd. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Wednesday, October 3rd. Berenberg Bank began coverage on BP in a report on Tuesday, September 11th. They issued a “buy” rating on the stock. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 5th. Finally, Santander raised BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $53.44.

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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