BP PLC (BP) Stake Increased by Atlas Brown Inc.

Atlas Brown Inc. increased its stake in shares of BP PLC (NYSE:BP) by 92.6% during the second quarter, Holdings Channel reports. The institutional investor owned 23,823 shares of the oil and gas exploration company’s stock after buying an additional 11,451 shares during the period. Atlas Brown Inc.’s holdings in BP PLC were worth $846,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock worth $235,994,000 after buying an additional 22,315 shares during the period. Acadian Asset Management LLC increased its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock worth $263,671,000 after buying an additional 3,405,646 shares during the period. Bank of Montreal Can acquired a new position in shares of BP PLC during the second quarter worth about $257,496,000. Aviance Capital Management LLC increased its position in shares of BP PLC by 20.2% in the second quarter. Aviance Capital Management LLC now owns 1,455,102 shares of the oil and gas exploration company’s stock worth $51,671,000 after buying an additional 244,753 shares during the period. Finally, Seminole Management Co. Inc. increased its position in shares of BP PLC by 82.1% in the second quarter. Seminole Management Co. Inc. now owns 1,310,369 shares of the oil and gas exploration company’s stock worth $46,531,000 after buying an additional 590,690 shares during the period. 11.96% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for BP PLC (NYSE:BP)

Shares of BP PLC (NYSE:BP) traded down 0.95% on Monday, reaching $35.50. The company had a trading volume of 3,488,103 shares. The company has a 50 day moving average price of $34.65 and a 200 day moving average price of $33.46. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.53. The stock’s market capitalization is $111.10 billion.

BP PLC (NYSE:BP) last issued its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. The business earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, equities research analysts anticipate that BP PLC will post $1.09 earnings per share for the current year.

Several research firms recently weighed in on BP. Vetr raised BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research note on Monday, June 27th. Credit Suisse Group AG raised BP PLC from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP PLC in a research note on Thursday, July 21st. Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a research note on Thursday, June 30th. Finally, Credit Agricole SA reaffirmed a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. BP PLC currently has an average rating of “Buy” and an average target price of $38.63.

BP PLC Company Profile

BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.

5 Day Chart for NYSE:BP

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