Point72 Asset Management L.P. purchased a new position in shares of BP plc (NYSE:BP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,219,177 shares of the oil and gas exploration company’s stock, valued at approximately $50,840,000.
A number of other large investors have also recently added to or reduced their stakes in BP. Focused Wealth Management Inc acquired a new position in BP in the 2nd quarter valued at $25,000. Marino Stram & Associates LLC raised its holdings in BP by 71.0% in the 1st quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after acquiring an additional 277 shares in the last quarter. Rocky Mountain Advisers LLC acquired a new position in BP in the 2nd quarter valued at $36,000. Next Capital Management LLC acquired a new position in BP in the 2nd quarter valued at $38,000. Finally, Manchester Financial Inc. acquired a new position in BP in the 2nd quarter valued at $40,000. 10.72% of the stock is owned by institutional investors and hedge funds.
NYSE BP traded up $0.26 during midday trading on Friday, hitting $38.95. The company had a trading volume of 4,208,869 shares, compared to its average volume of 6,799,014. The company has a market capitalization of $130.86 billion, a PE ratio of 10.25, a P/E/G ratio of 1.25 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 firm has a 50-day moving average price of $37.32 and a 200-day moving average price of $41.07. BP plc has a twelve month low of $35.73 and a twelve month high of $47.16.
Several equities analysts have weighed in on the company. Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 price objective for the company. in a report on Wednesday, July 10th. Grupo Santander raised BP from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.30 to $48.60 in a report on Wednesday, July 31st. ValuEngine cut BP from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $52.04.
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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