First Mercantile Trust Co. Buys Shares of 18,373 BP plc (NYSE:BP)

First Mercantile Trust Co. purchased a new stake in BP plc (NYSE:BP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,373 shares of the oil and gas exploration company’s stock, valued at approximately $698,000.

Several other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of BP by 0.9% in the second quarter. Renaissance Technologies LLC now owns 12,277,802 shares of the oil and gas exploration company’s stock valued at $511,984,000 after purchasing an additional 111,556 shares during the period. BlackRock Inc. raised its position in shares of BP by 0.7% in the second quarter. BlackRock Inc. now owns 12,227,888 shares of the oil and gas exploration company’s stock valued at $509,903,000 after purchasing an additional 86,190 shares during the period. Bank of America Corp DE raised its position in shares of BP by 1.9% in the second quarter. Bank of America Corp DE now owns 12,186,512 shares of the oil and gas exploration company’s stock valued at $508,178,000 after purchasing an additional 226,891 shares during the period. Morgan Stanley raised its position in shares of BP by 7.2% in the second quarter. Morgan Stanley now owns 10,754,114 shares of the oil and gas exploration company’s stock valued at $448,447,000 after purchasing an additional 724,078 shares during the period. Finally, Invesco Ltd. raised its position in shares of BP by 15.7% in the second quarter. Invesco Ltd. now owns 10,695,526 shares of the oil and gas exploration company’s stock valued at $446,003,000 after purchasing an additional 1,452,653 shares during the period. 10.78% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on BP. Grupo Santander raised shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets began coverage on shares of BP in a research report on Tuesday, August 20th. They set an “outperform” rating and a $53.00 target price on the stock. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.30 to $48.60 in a research report on Wednesday, July 31st. Barclays dropped their target price on shares of BP from $700.00 to $650.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating on shares of BP in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $273.43.

BP stock traded down $0.13 on Thursday, reaching $39.27. 2,504,110 shares of the company were exchanged, compared to its average volume of 7,760,013. BP plc has a 12 month low of $35.73 and a 12 month high of $45.38. The stock’s fifty day moving average price is $38.13 and its 200 day moving average price is $39.69. The firm has a market capitalization of $133.65 billion, a PE ratio of 10.33, a PEG ratio of 1.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 0.87.

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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