Sheaff Brock Investment Advisors LLC Trims Holdings in BP plc (NYSE:BP)

Sheaff Brock Investment Advisors LLC decreased its holdings in BP plc (NYSE:BP) by 13.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,370 shares of the oil and gas exploration company’s stock after selling 7,363 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in BP were worth $1,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its stake in shares of BP by 18.6% during the first quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock valued at $1,348,019,000 after buying an additional 4,832,518 shares during the period. BlackRock Inc. increased its stake in shares of BP by 51.5% during the first quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock valued at $530,835,000 after buying an additional 4,126,312 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of BP by 80.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock valued at $159,705,000 after buying an additional 1,631,395 shares during the period. Wells Fargo & Company MN increased its stake in shares of BP by 20.9% during the first quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock valued at $250,090,000 after buying an additional 989,753 shares during the period. Finally, Norges Bank purchased a new position in shares of BP during the fourth quarter valued at $32,149,000. Institutional investors and hedge funds own 11.05% of the company’s stock.

BP traded up $0.62 on Tuesday, hitting $37.29. The company had a trading volume of 8,371,070 shares, compared to its average volume of 9,330,515. The company has a fifty day simple moving average of $39.85. BP plc has a 12-month low of $36.28 and a 12-month high of $47.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.07 and a quick ratio of 0.77. The stock has a market cap of $124.20 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.16 and a beta of 0.74.

Several equities analysts have recently commented on BP shares. ValuEngine lowered BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target on the stock. in a research note on Tuesday, April 16th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and raised their price target for the company from $46.30 to $48.60 in a research note on Wednesday, July 31st. Finally, Credit Suisse Group lowered BP from an “outperform” rating to a “neutral” rating and set a $41.06 price target on the stock. in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. BP currently has an average rating of “Buy” and an average price target of $51.89.

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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