TD Asset Management Inc. lessened its stake in shares of BP plc (NYSE:BP) by 19.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 27,936 shares of the oil and gas exploration company’s stock after selling 6,686 shares during the period. TD Asset Management Inc.’s holdings in BP were worth $1,178,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Focused Wealth Management Inc acquired a new stake in shares of BP during the second quarter worth $25,000. Ellis Investment Partners LLC acquired a new stake in shares of BP during the first quarter worth $29,000. Marino Stram & Associates LLC boosted its holdings in shares of 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 purchasing an additional 277 shares during the last quarter. Bray Capital Advisors boosted its holdings in shares of 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 purchasing an additional 389 shares during the last quarter. Finally, Rocky Mountain Advisers LLC acquired a new position in BP in the second quarter valued at $36,000. Hedge funds and other institutional investors own 10.88% of the company’s stock.
A number of research analysts recently weighed in on the company. Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price on the stock. in a report on Wednesday, July 10th. ValuEngine lowered BP from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. BMO Capital Markets initiated coverage on BP in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 price objective on the stock. Finally, Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.30 to $48.60 in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $52.04.
Shares of NYSE BP opened at $36.21 on Friday. BP plc has a 1 year low of $35.73 and a 1 year high of $47.16. The firm has a market cap of $122.09 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.77 and a current ratio of 1.07. The stock’s 50-day simple moving average is $38.67 and its 200-day simple moving average is $41.72.
BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. BP had a return on equity of 12.12% and a net margin of 2.97%. The business had revenue of $73.75 billion for the quarter, compared to analyst estimates of $79.79 billion. As a group, research analysts predict that BP plc will post 3.13 EPS for the current 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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