BP plc (NYSE:BP) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. reduced its position in BP plc (NYSE:BP) by 62.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,769 shares of the oil and gas exploration company’s stock after selling 67,011 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in BP were worth $1,698,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BP. FMR LLC boosted its holdings in shares of BP by 18.6% in 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 acquiring an additional 4,832,518 shares during the period. BlackRock Inc. raised 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 worth $530,835,000 after purchasing an additional 4,126,312 shares during the last quarter. PNC Financial Services Group Inc. raised 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 worth $159,705,000 after purchasing an additional 1,631,395 shares during the last quarter. Wells Fargo & Company MN raised 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 worth $250,090,000 after purchasing an additional 989,753 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. raised its stake in shares of BP by 65.1% during the first quarter. Menora Mivtachim Holdings LTD. now owns 1,790,920 shares of the oil and gas exploration company’s stock worth $78,299,000 after purchasing an additional 706,490 shares during the last quarter. 11.05% of the stock is owned by institutional investors and hedge funds.

BP has been the subject of several analyst reports. Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 price target for the company. in a research note on Wednesday, July 10th. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.30 to $48.60 in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $51.89.

Shares of BP stock traded up $0.24 during trading hours on Friday, hitting $36.29. 5,361,900 shares of the company were exchanged, compared to its average volume of 9,349,156. BP plc has a 1 year low of $35.73 and a 1 year high of $47.16. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $39.40 and a 200-day moving average of $41.89. The stock has a market capitalization of $121.32 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 1.14 and a beta of 0.74.

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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