Gradient Investments LLC Raises Stock Position in BP plc (NYSE:BP)

Gradient Investments LLC lifted its stake in shares of BP plc (NYSE:BP) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,363 shares of the oil and gas exploration company’s stock after acquiring an additional 6,510 shares during the quarter. Gradient Investments LLC’s holdings in BP were worth $1,808,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BP. First Trust Advisors LP boosted its holdings in BP by 61.2% during the fourth quarter. First Trust Advisors LP now owns 23,737 shares of the oil and gas exploration company’s stock worth $900,000 after buying an additional 9,010 shares during the last quarter. Geode Capital Management LLC increased its holdings in BP by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 95,330 shares of the oil and gas exploration company’s stock worth $3,614,000 after purchasing an additional 635 shares in the last quarter. Squarepoint Ops LLC acquired a new position in BP in the 4th quarter worth about $1,215,000. Segall Bryant & Hamill LLC increased its holdings in BP by 7.2% in the 4th quarter. Segall Bryant & Hamill LLC now owns 33,079 shares of the oil and gas exploration company’s stock worth $1,254,000 after purchasing an additional 2,210 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new position in BP in the 4th quarter worth about $255,000. 11.02% of the stock is currently owned by institutional investors and hedge funds.

BP stock traded down $0.11 during trading on Friday, hitting $38.88. 1,707,535 shares of the company’s stock traded hands, compared to its average volume of 6,177,838. The firm’s fifty day moving average price is $41.09. The stock has a market cap of $130.25 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. BP plc has a 52 week low of $36.28 and a 52 week high of $47.16.

BP (NYSE:BP) last announced its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $66.32 billion during the quarter, compared to analyst estimates of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. As a group, equities analysts forecast that BP plc will post 3.16 earnings per share for the current fiscal year.

Several equities analysts have weighed in on BP shares. Credit Suisse Group began coverage on shares of LTC Properties in a report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 target price on the stock. ValuEngine downgraded shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada initiated coverage on shares of Robert Half International in a report on Tuesday, April 16th. They issued a “sector perform” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.54.

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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