Parametric Portfolio Associates LLC Boosts Holdings in BP plc (NYSE:BP)

Parametric Portfolio Associates LLC increased its position in BP plc (NYSE:BP) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,805,770 shares of the oil and gas exploration company’s stock after purchasing an additional 289,108 shares during the period. Parametric Portfolio Associates LLC’s holdings in BP were worth $158,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BP. FMR LLC grew its holdings in shares of BP by 18.6% during the first quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock valued at $1,348,019,000 after buying an additional 4,832,518 shares during the last quarter. BlackRock Inc. raised its position in BP by 51.5% in the 1st quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock worth $530,835,000 after buying an additional 4,126,312 shares during the last quarter. PNC Financial Services Group Inc. raised its position in BP by 80.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock worth $159,705,000 after buying an additional 1,631,395 shares during the last quarter. Wells Fargo & Company MN lifted its stake in BP by 20.9% during the 1st quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock valued at $250,090,000 after acquiring an additional 989,753 shares during the period. Finally, Menora Mivtachim Holdings LTD. lifted its stake in BP by 65.1% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 1,790,920 shares of the oil and gas exploration company’s stock valued at $78,299,000 after acquiring an additional 706,490 shares during the period. 10.77% of the stock is currently owned by institutional investors.

NYSE BP traded down $0.04 during trading hours on Wednesday, hitting $37.80. 596,366 shares of the company’s stock traded hands, compared to its average volume of 5,956,819. BP plc has a 52 week low of $35.73 and a 52 week high of $47.16. The firm has a market capitalization of $127.33 billion, a P/E ratio of 9.95, a P/E/G 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. The business’s fifty day moving average price is $37.45 and its two-hundred day moving average price is $41.24.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.05. The business had revenue of $73.75 billion for the quarter, compared to the consensus estimate of $79.79 billion. BP had a net margin of 2.97% and a return on equity of 12.12%. On average, sell-side analysts expect that BP plc will post 3.06 EPS for the current fiscal year.

A number of analysts have recently commented on BP shares. Grupo Santander upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on shares of BP in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 target price for the company. ValuEngine lowered shares of BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. 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 note on Wednesday, July 10th. Finally, Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.30 to $48.60 in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. BP presently has a consensus rating of “Buy” and an average price target of $52.04.

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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