BP PLC (BP) Shares Sold by Sequoia Financial Advisors LLC
Sequoia Financial Advisors LLC reduced its position in shares of BP PLC (NYSE:BP) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,237 shares of the oil and gas exploration company’s stock after selling 891 shares during the period. Sequoia Financial Advisors LLC’s holdings in BP PLC were worth $364,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in BP. Washington Trust Bank boosted its stake in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock worth $118,000 after buying an additional 2,082 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock worth $146,000 after buying an additional 26 shares in the last quarter. Iowa State Bank purchased a new stake in BP PLC during the second quarter worth approximately $159,000. Quadrant Capital Group LLC boosted its stake in BP PLC by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 4,542 shares of the oil and gas exploration company’s stock worth $151,000 after buying an additional 217 shares in the last quarter. Finally, Commonwealth Financial Services LLC boosted its stake in BP PLC by 6.1% in the second quarter. Commonwealth Financial Services LLC now owns 4,894 shares of the oil and gas exploration company’s stock worth $174,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 11.96% of the company’s stock.
BP PLC (NYSE:BP) traded up 0.19% on Wednesday, reaching $36.05. 3,885,486 shares of the company’s stock traded hands. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.53. The company’s 50 day moving average is $34.70 and its 200-day moving average is $33.51. The stock’s market cap is $112.82 billion.
BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.05. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. The company earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. During the same period last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. Equities analysts expect that BP PLC will post $1.09 EPS for the current year.
A number of research firms have issued reports on BP. BNP Paribas reiterated an “outperform” rating on shares of BP PLC in a report on Tuesday, October 11th. Barclays PLC reiterated a “buy” rating on shares of BP PLC in a report on Thursday, October 6th. Credit Suisse Group AG upgraded BP PLC from an “underperform” rating to a “neutral” rating in a report on Tuesday, July 5th. Vetr upgraded BP PLC from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP PLC in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. BP PLC presently has a consensus rating of “Buy” and an average price target of $38.63.
About BP PLC
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.
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