MML Investors Services LLC reduced its stake in shares of BP plc (NYSE:BP) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,952 shares of the oil and gas exploration company’s stock after selling 3,243 shares during the period. MML Investors Services LLC’s holdings in BP were worth $5,836,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BP. Focused Wealth Management Inc bought a new stake in BP in the second quarter worth $25,000. Marino Stram & Associates LLC boosted its holdings in BP by 71.0% in 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 in the last quarter. Rocky Mountain Advisers LLC bought a new stake in BP in the second quarter worth $36,000. Next Capital Management LLC bought a new stake in BP in the second quarter worth $38,000. Finally, Manchester Financial Inc. bought a new stake in BP in the second quarter worth $40,000. Institutional investors and hedge funds own 10.77% of the company’s stock.
A number of brokerages recently issued reports on BP. ValuEngine cut shares of BP from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Grupo Santander raised shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group lowered shares of BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price for the company. in a research report on Wednesday, July 10th. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.30 to $48.60 in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BP in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. BP has an average rating of “Buy” and an average price target of $52.04.
BP stock traded down $0.12 on Thursday, reaching $37.68. 347,732 shares of the stock were exchanged, compared to its average volume of 5,833,362. The stock has a market cap of $127.33 billion, a PE ratio of 9.92, a PEG ratio of 1.22 and a beta of 0.77. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65. BP plc has a twelve month low of $35.73 and a twelve month high of $47.16. The firm has a fifty day moving average price of $37.42 and a two-hundred day moving average price of $41.21.
BP (NYSE:BP) last released its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. The firm had revenue of $73.75 billion during the quarter, compared to analyst estimates of $79.79 billion. BP had a net margin of 2.97% and a return on equity of 12.12%. Equities analysts anticipate that BP plc will post 3.06 EPS for the current fiscal 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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