Pacer Advisors Inc. grew its stake in shares of BP plc (NYSE:BP) by 8.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 117,862 shares of the oil and gas exploration company’s stock after acquiring an additional 8,921 shares during the period. Pacer Advisors Inc.’s holdings in BP were worth $4,478,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new stake in shares of BP during the 1st quarter worth approximately $906,000. GWM Advisors LLC boosted its stake in shares of BP by 11.7% in the 1st quarter. GWM Advisors LLC now owns 25,232 shares of the oil and gas exploration company’s stock valued at $1,103,000 after purchasing an additional 2,649 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in shares of BP in the 1st quarter valued at $853,000. Koshinski Asset Management Inc. boosted its stake in shares of BP by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 12,669 shares of the oil and gas exploration company’s stock valued at $554,000 after purchasing an additional 447 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of BP by 4.2% in the 1st quarter. AdvisorNet Financial Inc now owns 22,645 shares of the oil and gas exploration company’s stock valued at $990,000 after purchasing an additional 903 shares during the last quarter. Institutional investors own 10.72% of the company’s stock.
BP has been the topic of several research analyst reports. Grupo Santander raised shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Credit Suisse Group lowered shares of BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price on the stock. in a research note on Wednesday, July 10th. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.30 to $48.60 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reissued a “buy” rating on shares of BP in a research note on Friday, August 30th. Finally, Kepler Capital Markets reissued a “buy” rating on shares of BP in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. BP presently has an average rating of “Buy” and an average price target of $45.72.
BP stock opened at $37.46 on Friday. BP plc has a 1-year low of $35.73 and a 1-year high of $45.38. The firm has a market capitalization of $127.20 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. The firm’s fifty day moving average price is $37.53 and its two-hundred day moving average price is $40.46. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65.
BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. The company had revenue of $73.75 billion during the quarter, compared to the consensus estimate of $79.79 billion. BP had a net margin of 2.97% and a return on equity of 12.12%. On average, research analysts forecast that BP plc will post 3.06 EPS for the current 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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