KG&L Capital Management LLC lowered its holdings in shares of BP plc (NYSE:BP) by 10.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,725 shares of the oil and gas exploration company’s stock after selling 1,443 shares during the period. KG&L Capital Management LLC’s holdings in BP were worth $483,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BP. FMR LLC raised its holdings in shares of BP by 18.6% during the 1st quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock worth $1,348,019,000 after buying an additional 4,832,518 shares in the last quarter. Invesco Ltd. increased its holdings in BP by 15.7% in the 2nd quarter. Invesco Ltd. now owns 10,695,526 shares of the oil and gas exploration company’s stock worth $446,003,000 after purchasing an additional 1,452,653 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in BP in the 2nd quarter worth about $53,354,000. Point72 Asset Management L.P. acquired a new position in BP in the 2nd quarter worth about $50,840,000. Finally, Verition Fund Management LLC increased its holdings in BP by 812.8% in the 2nd quarter. Verition Fund Management LLC now owns 976,037 shares of the oil and gas exploration company’s stock worth $40,701,000 after purchasing an additional 869,110 shares in the last quarter. 10.72% of the stock is owned by institutional investors.
BP has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP in a report on Friday, August 30th. Grupo Santander raised BP from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. ValuEngine raised BP from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BMO Capital Markets initiated coverage on BP in a report on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 target price for the company. Finally, Kepler Capital Markets reaffirmed a “buy” rating on shares of BP in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.72.
BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. The company had revenue of $73.75 billion during the quarter, compared to analysts’ expectations of $79.79 billion. BP had a return on equity of 12.12% and a net margin of 2.97%. Sell-side analysts anticipate that BP plc will post 3.06 EPS for the current fiscal year.
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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