CIBC Asset Management Inc lessened its stake in BP plc (NYSE:BP) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 220,490 shares of the oil and gas exploration company’s stock after selling 32,725 shares during the quarter. CIBC Asset Management Inc’s holdings in BP were worth $9,192,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Focused Wealth Management Inc acquired a new stake in BP during the second quarter worth $25,000. Ellis Investment Partners LLC acquired a new stake in BP during the first quarter worth $29,000. Marino Stram & Associates LLC increased its stake in BP by 71.0% during the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock worth $29,000 after acquiring an additional 277 shares during the last quarter. Horan Capital Advisors LLC. acquired a new stake in BP during the first quarter worth $35,000. Finally, Bray Capital Advisors increased its stake in BP by 91.7% during the first quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 389 shares during the last quarter. 10.88% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on BP shares. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. BMO Capital Markets started coverage on BP in a research note on Tuesday. They set an “outperform” rating for the company. Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price for the company. in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.30 to $48.60 in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.89.BP stock opened at $36.45 on Wednesday. BP plc has a 52-week low of $35.73 and a 52-week high of $47.16. The business has a fifty day moving average of $38.97 and a two-hundred day moving average of $41.79. The stock has a market cap of $121.32 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 1.07 and a debt-to-equity ratio of 0.65.
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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