Stephens Inc. AR lessened its holdings in BP plc (NYSE:BP) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,853 shares of the oil and gas exploration company’s stock after selling 40,285 shares during the quarter. Stephens Inc. AR’s holdings in BP were worth $8,760,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BP. Elmwood Wealth Management Inc. bought a new position in BP in the 1st quarter valued at approximately $107,000. Clarus Wealth Advisors bought a new position in BP in the 2nd quarter valued at approximately $165,000. Bruderman Asset Management LLC bought a new position in BP during the 1st quarter worth approximately $166,000. Destination Wealth Management raised its holdings in BP by 2,782.4% during the 2nd quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock worth $187,000 after purchasing an additional 3,951 shares during the last quarter. Finally, Abbot Financial Management Inc. bought a new position in BP during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 10.71% of the company’s stock.

BP stock traded down $0.16 during mid-day trading on Friday, reaching $43.26. 2,568,200 shares of the company traded hands, compared to its average volume of 4,982,535. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $143.37 billion, a PE ratio of 23.01, a PEG ratio of 3.17 and a beta of 0.91. BP plc has a 52-week low of $36.15 and a 52-week high of $47.83.

BP (NYSE:BP) last posted its earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.85. BP had a return on equity of 9.28% and a net margin of 2.55%. The business had revenue of $75.44 billion during the quarter, compared to analyst estimates of $82.25 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. equities research analysts anticipate that BP plc will post 3.4 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Goldman Sachs Group raised shares of BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Santander downgraded shares of BP from a “hold” rating to an “underperform” rating in a research report on Monday, May 21st. Zacks Investment Research downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 5th. Finally, HSBC upgraded BP to a “buy” rating in a research note on Monday, July 30th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. BP has a consensus rating of “Buy” and a consensus price target of $47.07.

About BP

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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