Keybank National Association OH trimmed its position in shares of BP plc (NYSE:BP) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,321 shares of the oil and gas exploration company’s stock after selling 36,733 shares during the quarter. Keybank National Association OH’s holdings in BP were worth $4,799,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BP. Fisher Asset Management LLC raised its holdings in shares of BP by 29.5% during the third quarter. Fisher Asset Management LLC now owns 9,071,080 shares of the oil and gas exploration company’s stock worth $344,610,000 after acquiring an additional 2,064,781 shares during the period. Invesco Ltd. raised its holdings in shares of BP by 15.7% during the second quarter. Invesco Ltd. now owns 10,695,526 shares of the oil and gas exploration company’s stock worth $446,003,000 after acquiring an additional 1,452,653 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of BP during the second quarter worth $53,354,000. Point72 Asset Management L.P. acquired a new stake in shares of BP during the second quarter worth $50,840,000. Finally, Verition Fund Management LLC raised its holdings in shares of BP by 812.8% during the second quarter. Verition Fund Management LLC now owns 976,037 shares of the oil and gas exploration company’s stock worth $40,701,000 after acquiring an additional 869,110 shares during the period. 10.78% of the stock is currently owned by institutional investors.
BP stock traded down $0.13 during midday trading on Friday, hitting $39.19. The company’s stock had a trading volume of 6,955,769 shares, compared to its average volume of 6,209,801. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 0.87. BP plc has a twelve month low of $35.73 and a twelve month high of $45.38. The company’s fifty day moving average price is $38.15 and its 200 day moving average price is $39.64. The stock has a market capitalization of $133.51 billion, a P/E ratio of 10.31, a PEG ratio of 1.38 and a beta of 0.75.
A number of brokerages recently commented on BP. Barclays dropped their price objective on shares of BP from $700.00 to $650.00 and set an “overweight” rating on the stock in a report on Wednesday. DZ Bank dropped their price objective on shares of BP from $620.00 to $600.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating on shares of BP in a report on Monday, October 28th. BMO Capital Markets started coverage on shares of BP in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 price target on the stock. Finally, Argus lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $273.43.
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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