Bridgewater Associates LP reduced its position in shares of BP p.l.c. (NYSE:BP) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 438,117 shares of the oil and gas exploration company’s stock after selling 6,983 shares during the period. BP p.l.c. comprises 0.2% of Bridgewater Associates LP’s investment portfolio, making the stock its 26th largest position. Bridgewater Associates LP’s holdings in BP p.l.c. were worth $15,124,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Vivaldi Capital Management LLC purchased a new stake in shares of BP p.l.c. during the first quarter worth $397,000. OppenheimerFunds Inc. increased its stake in shares of BP p.l.c. by 1.2% in the first quarter. OppenheimerFunds Inc. now owns 1,843,196 shares of the oil and gas exploration company’s stock worth $63,627,000 after buying an additional 22,624 shares during the period. CFO4Life Group LLC purchased a new stake in shares of BP p.l.c. during the first quarter worth $550,000. Massey Quick & Co. LLC increased its stake in shares of BP p.l.c. by 27,575.0% in the first quarter. Massey Quick & Co. LLC now owns 1,107 shares of the oil and gas exploration company’s stock worth $3,856,000 after buying an additional 1,103 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of BP p.l.c. during the first quarter worth $215,000. Institutional investors and hedge funds own 9.98% of the company’s stock.
Shares of BP p.l.c. (BP) traded up 0.49% during mid-day trading on Friday, hitting $35.16. The stock had a trading volume of 5,427,572 shares. BP p.l.c. has a 12-month low of $32.50 and a 12-month high of $38.68. The stock has a market cap of $115.23 billion, a price-to-earnings ratio of 52.32 and a beta of 0.94. The firm’s 50-day moving average price is $34.99 and its 200 day moving average price is $35.08.
BP p.l.c. (NYSE:BP) last released its earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The company had revenue of $55.86 billion during the quarter, compared to analysts’ expectations of $59.87 billion. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. The business’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Equities analysts forecast that BP p.l.c. will post $1.60 EPS for the current fiscal year.
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A number of research analysts recently commented on the company. Societe Generale downgraded BP p.l.c. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $35.04 to $34.90 in a research note on Wednesday. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $35.90 price objective on shares of BP p.l.c. in a research note on Friday, July 14th. Scotiabank restated a “buy” rating and set a $37.00 price objective on shares of BP p.l.c. in a research note on Friday, June 30th. Finally, Kepler Capital Markets downgraded BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $36.01.
BP p.l.c. Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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