Investors Buy High Volume of Call Options on BP (NYSE:BP)

BP plc (NYSE:BP) saw some unusual options trading on Wednesday. Stock traders purchased 158,895 call options on the company. This represents an increase of 2,179% compared to the typical daily volume of 6,971 call options.

A number of research firms recently issued reports on BP. UBS Group reiterated a “buy” rating on shares of BP in a research note on Monday, October 28th. DZ Bank decreased their price objective on BP from $620.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Barclays reiterated an “overweight” rating on shares of BP in a research note on Thursday, October 17th. Credit Suisse Group lowered BP from an “outperform” rating to a “neutral” rating and set a $41.06 price objective on the stock. in a research note on Wednesday, July 10th. Finally, Grupo Santander upgraded BP from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BP has an average rating of “Buy” and an average price target of $231.59.

Shares of NYSE BP opened at $39.40 on Thursday. The firm has a market capitalization of $133.65 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.37 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $38.13 and its two-hundred day simple moving average is $39.69. BP has a twelve month low of $35.73 and a twelve month high of $45.38.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OLD Dominion Capital Management Inc. boosted its holdings in BP by 2.2% during the 2nd quarter. OLD Dominion Capital Management Inc. now owns 26,077 shares of the oil and gas exploration company’s stock valued at $1,087,000 after acquiring an additional 550 shares during the period. BB&T Corp lifted its holdings in BP by 3.2% in the 2nd quarter. BB&T Corp now owns 244,969 shares of the oil and gas exploration company’s stock worth $10,216,000 after buying an additional 7,698 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in BP by 64.6% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,681 shares of the oil and gas exploration company’s stock worth $69,000 after buying an additional 660 shares during the period. Gamco Investors INC. ET AL lifted its holdings in BP by 28.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 42,921 shares of the oil and gas exploration company’s stock worth $1,790,000 after buying an additional 9,455 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in BP by 20.7% in the 2nd quarter. Cetera Investment Advisers now owns 32,065 shares of the oil and gas exploration company’s stock worth $1,335,000 after buying an additional 5,500 shares during the period. Institutional investors and hedge funds own 10.78% of the company’s stock.

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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