Wrapmanager Inc. lowered its stake in BP plc (NYSE:BP) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,672 shares of the oil and gas exploration company’s stock after selling 816 shares during the period. Wrapmanager Inc.’s holdings in BP were worth $1,571,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of BP. FMR LLC increased its position in shares of BP by 18.6% in the first quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock worth $1,348,019,000 after purchasing an additional 4,832,518 shares during the period. BlackRock Inc. boosted its stake in BP by 51.5% in the first quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock valued at $530,835,000 after buying an additional 4,126,312 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in BP by 80.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock valued at $159,705,000 after buying an additional 1,631,395 shares in the last quarter. Wells Fargo & Company MN boosted its stake in BP by 20.9% in the first quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock valued at $250,090,000 after buying an additional 989,753 shares in the last quarter. Finally, Norges Bank acquired a new stake in BP in the fourth quarter valued at about $32,149,000. Institutional investors own 11.05% of the company’s stock.

BP has been the topic of several research analyst reports. 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 note on Wednesday, July 31st. Credit Suisse Group lowered BP from an “outperform” rating to a “neutral” rating and set a $41.06 price objective on the stock. in a research note on Wednesday, July 10th. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective on the stock. in a research note on Tuesday, April 16th. Finally, ValuEngine lowered BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. BP presently has an average rating of “Buy” and an average price target of $51.89.

Shares of BP stock traded up $0.58 during mid-day trading on Tuesday, reaching $37.23. 371,138 shares of the stock traded hands, compared to its average volume of 9,330,515. The business has a fifty day moving average price of $39.85. BP plc has a 1-year low of $36.28 and a 1-year high of $47.16. The stock has a market capitalization of $124.20 billion, a P/E ratio of 9.79, a price-to-earnings-growth 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.

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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