1,219,177 Shares in BP plc (NYSE:BP) Acquired by Point72 Asset Management L.P.

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.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. BP had a return on equity of 12.12% and a net margin of 2.97%. The firm had revenue of $73.75 billion during the quarter, compared to analysts’ expectations of $79.79 billion. On average, equities analysts anticipate that BP plc will post 3.06 EPS for the current year.

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.

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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