Ritholtz Wealth Management lowered its position in shares of BP plc (NYSE:BP) by 15.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,698 shares of the oil and gas exploration company’s stock after selling 2,445 shares during the period. Ritholtz Wealth Management’s holdings in BP were worth $239,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in BP by 16.5% in the third quarter. Global Retirement Partners LLC now owns 28,357 shares of the oil and gas exploration company’s stock valued at $495,000 after acquiring an additional 4,012 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of BP in the second quarter valued at about $1,565,000. State Street Corp raised its holdings in shares of BP by 4.3% in the first quarter. State Street Corp now owns 28,472,105 shares of the oil and gas exploration company’s stock valued at $694,435,000 after buying an additional 1,171,056 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of BP in the second quarter valued at about $522,000. Finally, CWM LLC raised its holdings in shares of BP by 119.4% in the third quarter. CWM LLC now owns 36,329 shares of the oil and gas exploration company’s stock valued at $634,000 after buying an additional 19,768 shares during the last quarter. Hedge funds and other institutional investors own 8.51% of the company’s stock.
BP has been the subject of a number of research reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of BP in a report on Monday, October 12th. Barclays reaffirmed an “overweight” rating on shares of BP in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an “underweight” rating on shares of BP in a report on Wednesday, October 7th. Royal Bank of Canada reissued an “underperform” rating on shares of BP in a report on Wednesday, August 5th. Finally, Jefferies Financial Group raised 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. Five analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.99.
BP traded down $0.16 on Monday, hitting $15.89. 464,061 shares of the company were exchanged, compared to its average volume of 13,506,922. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.08 and a current ratio of 1.30. The business’s fifty day moving average is $18.13 and its 200 day moving average is $22.07. BP plc has a fifty-two week low of $15.51 and a fifty-two week high of $40.08. The firm has a market capitalization of $54.19 billion, a P/E ratio of -2.45 and a beta of 0.75.
BP (NYSE:BP) last issued its earnings results on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.99). BP had a negative return on equity of 1.14% and a negative net margin of 9.45%. The company had revenue of $31.68 billion for the quarter, compared to analyst estimates of $38.70 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 56.4% compared to the same quarter last year. Analysts forecast that BP plc will post -1.64 EPS for the current fiscal year.
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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