BP p.l.c. (NYSE:BP) was the target of some unusual options trading on Friday. Traders purchased 5,637 call options on the company. This represents an increase of 118% compared to the average daily volume of 2,582 call options.

A number of research firms have recently issued reports on BP. Jefferies Group LLC set a $36.00 price target on BP p.l.c. and gave the company a “hold” rating in a research report on Wednesday, May 17th. Argus upped their price target on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. TheStreet upgraded BP p.l.c. from a “c” rating to a “b-” rating in a research report on Tuesday, May 30th. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $36.10.

Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after buying an additional 623,612 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of BP p.l.c. by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,404 shares of the oil and gas exploration company’s stock valued at $2,102,000 after buying an additional 5,086 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of BP p.l.c. by 68.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 827,125 shares of the oil and gas exploration company’s stock valued at $30,918,000 after buying an additional 337,242 shares in the last quarter. Heritage Investors Management Corp boosted its stake in shares of BP p.l.c. by 0.9% in the first quarter. Heritage Investors Management Corp now owns 22,965 shares of the oil and gas exploration company’s stock valued at $793,000 after buying an additional 200 shares in the last quarter. Finally, Beacon Financial Group boosted its stake in shares of BP p.l.c. by 2.5% in the first quarter. Beacon Financial Group now owns 8,154 shares of the oil and gas exploration company’s stock valued at $281,000 after buying an additional 198 shares in the last quarter. 9.98% of the stock is owned by institutional investors.

BP p.l.c. (NYSE:BP) opened at 34.68 on Monday. The stock’s 50 day moving average price is $35.17 and its 200 day moving average price is $35.20. BP p.l.c. has a 52-week low of $32.50 and a 52-week high of $38.68. The stock has a market capitalization of $113.66 billion, a price-to-earnings ratio of 51.61 and a beta of 0.94.

BP p.l.c. (NYSE:BP) last announced its quarterly earnings data on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. BP p.l.c. had a net margin of 1.06% and a return on equity of 3.72%. The company had revenue of $55.86 billion during the quarter, compared to analysts’ expectations of $59.87 billion. During the same period in the previous year, the company earned $0.17 EPS. The business’s quarterly revenue was up 45.1% compared to the same quarter last year. On average, analysts forecast that BP p.l.c. will post $1.60 EPS for the current year.

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About BP p.l.c.

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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