BP plc (NYSE:BP) Shares Purchased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lifted its stake in BP plc (NYSE:BP) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,350 shares of the oil and gas exploration company’s stock after purchasing an additional 6,769 shares during the period. Cornerstone Investment Partners LLC’s holdings in BP were worth $988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Patten & Patten Inc. TN raised its position in BP by 0.9% during the second quarter. Patten & Patten Inc. TN now owns 51,343 shares of the oil and gas exploration company’s stock worth $1,197,000 after acquiring an additional 434 shares during the last quarter. Sound Income Strategies LLC raised its position in BP by 48.1% during the second quarter. Sound Income Strategies LLC now owns 1,407 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 457 shares during the last quarter. Advisors Management Group Inc. ADV raised its position in BP by 4.3% during the first quarter. Advisors Management Group Inc. ADV now owns 11,298 shares of the oil and gas exploration company’s stock worth $276,000 after acquiring an additional 468 shares during the last quarter. Simmons Bank raised its position in BP by 1.5% during the first quarter. Simmons Bank now owns 33,055 shares of the oil and gas exploration company’s stock worth $806,000 after acquiring an additional 475 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in BP by 1.9% during the first quarter. Jacobi Capital Management LLC now owns 25,652 shares of the oil and gas exploration company’s stock worth $615,000 after acquiring an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 10.11% of the company’s stock.

Shares of NYSE BP traded down $0.40 during trading on Friday, reaching $22.04. 11,139,704 shares of the stock were exchanged, compared to its average volume of 8,928,809. The business’s 50-day moving average price is $23.36 and its 200 day moving average price is $27.01. BP plc has a twelve month low of $15.51 and a twelve month high of $40.23. The company has a quick ratio of 0.83, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $74.42 billion, a price-to-earnings ratio of -22.72 and a beta of 0.80.

A number of equities analysts have issued reports on BP shares. Redburn Partners upgraded shares of BP from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 13th. Raymond James lifted their target price on shares of BP from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and set a $26.90 price target for the company in a report on Thursday, July 16th. Wolfe Research upgraded shares of BP from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Tuesday, June 2nd. Finally, Societe Generale downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.21.

BP Company 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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