Wedge Capital Management L L P NC trimmed its position in shares of BP plc (NYSE:BP) by 0.4% during the second quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BP. Focused Wealth Management Inc acquired a new stake in shares of BP in the second quarter valued at $25,000. Ellis Investment Partners LLC acquired a new stake in shares of BP in the first quarter valued at $29,000. Marino Stram & Associates LLC raised its stake in shares of BP by 71.0% in the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after acquiring an additional 277 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in shares of BP in the first quarter valued at $35,000. Finally, Bray Capital Advisors raised its stake in shares of BP by 91.7% in the first quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 389 shares in the last quarter. Institutional investors own 11.05% of the company’s stock.

BP stock traded down $0.35 during midday trading on Wednesday, reaching $36.32. The company’s stock had a trading volume of 3,888,845 shares, compared to its average volume of 5,757,131. BP plc has a fifty-two week low of $36.28 and a fifty-two week high of $47.16. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65. The stock has a market cap of $124.20 billion, a P/E ratio of 9.56, a P/E/G ratio of 1.16 and a beta of 0.74. The stock’s 50-day moving average is $39.75.

Several analysts have recently issued reports on the company. Credit Suisse Group cut BP from an “outperform” rating to a “neutral” rating and set a $41.06 price objective on the stock. in a research note on Wednesday, July 10th. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.30 to $48.60 in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada cut BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective on the stock. in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. BP presently has a consensus rating of “Buy” and an average target price of $51.89.

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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Institutional Ownership by Quarter for BP (NYSE:BP)

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