Wedge Capital Management L L P NC lessened its stake in BP plc (NYSE:BP) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 402,635 shares of the oil and gas exploration company’s stock after selling 1,682 shares during the quarter. Wedge Capital Management L L P NC’s holdings in BP were worth $16,790,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Horan Capital Advisors LLC. acquired a new position in BP in the 1st quarter worth about $35,000. Columbia Asset Management raised its holdings in BP by 12.6% in the 1st quarter. Columbia Asset Management now owns 52,569 shares of the oil and gas exploration company’s stock worth $2,298,000 after purchasing an additional 5,863 shares during the period. Global Financial Private Capital LLC raised its holdings in BP by 2.8% in the 1st quarter. Global Financial Private Capital LLC now owns 344,110 shares of the oil and gas exploration company’s stock worth $15,045,000 after purchasing an additional 9,341 shares during the period. Simmons Bank raised its holdings in BP by 6.5% in the 1st quarter. Simmons Bank now owns 34,453 shares of the oil and gas exploration company’s stock worth $1,506,000 after purchasing an additional 2,110 shares during the period. Finally, Resource Management LLC raised its holdings in BP by 44.4% in the 1st quarter. Resource Management LLC now owns 10,263 shares of the oil and gas exploration company’s stock worth $449,000 after purchasing an additional 3,154 shares during the period. 11.05% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on BP shares. 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 report on Wednesday, July 10th. ValuEngine cut BP from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target for the company. in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised 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 report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. BP presently has an average rating of “Buy” and a consensus price target of $51.89.

Shares of BP stock traded down $0.35 during mid-day trading on Wednesday, reaching $36.32. 3,888,845 shares of the stock traded hands, compared to its average volume of 5,757,131. The company has a 50-day moving average price of $39.75. BP plc has a fifty-two week low of $36.28 and a fifty-two week high of $47.16. The stock has a market capitalization of $124.20 billion, a PE ratio of 9.56, a PEG ratio of 1.16 and a beta of 0.74. The company has a quick ratio of 0.77, a current ratio of 1.07 and a debt-to-equity ratio of 0.65.

BP 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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