Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of BP plc (NYSE:BP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 446,300 shares of the oil and gas exploration company’s stock, valued at approximately $20,378,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlueMountain Capital Management LLC acquired a new position in BP during the second quarter worth about $64,175,000. Unio Capital LLC grew its position in BP by 5.8% during the second quarter. Unio Capital LLC now owns 186,687 shares of the oil and gas exploration company’s stock worth $8,524,000 after buying an additional 10,317 shares during the period. Nan Shan Life Insurance Co. Ltd. acquired a new position in BP during the second quarter worth about $36,528,000. Vantage Financial Partners Ltd. Inc. grew its position in BP by 95.7% during the second quarter. Vantage Financial Partners Ltd. Inc. now owns 55,275 shares of the oil and gas exploration company’s stock worth $2,524,000 after buying an additional 27,026 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. acquired a new position in BP during the second quarter worth about $1,240,000. 10.74% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. TheStreet upgraded shares of BP from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, July 10th. Royal Bank of Canada upgraded shares of BP from an “outperform” rating to a “top pick” rating in a research report on Monday, July 9th. Finally, Santander upgraded shares of BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. BP presently has an average rating of “Buy” and an average target price of $47.07.
BP (NYSE:BP) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $75.44 billion for the quarter, compared to analyst estimates of $82.25 billion. BP had a net margin of 2.55% and a return on equity of 9.28%. The company’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. equities analysts anticipate that BP plc will post 3.4 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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