Infrastructure Capital Advisors LLC acquired a new position in shares of BP plc (NYSE:BP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,220,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focused Wealth Management Inc bought a new stake in BP in the second quarter worth approximately $25,000. Marino Stram & Associates LLC increased its holdings in 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 worth $29,000 after purchasing an additional 277 shares in the last quarter. Rocky Mountain Advisers LLC bought a new stake in BP in the second quarter worth approximately $36,000. Next Capital Management LLC bought a new stake in BP in the second quarter worth approximately $38,000. Finally, Manchester Financial Inc. bought a new stake in BP in the second quarter worth approximately $40,000. Institutional investors own 10.77% of the company’s stock.

A number of brokerages have commented on BP. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.30 to $48.60 in a research note on Wednesday, July 31st. ValuEngine cut BP from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Grupo Santander raised BP from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP in a research report on Friday, August 30th. Finally, BMO Capital Markets assumed coverage on BP in a research report on Tuesday, August 20th. They set an “outperform” rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $52.04.

Shares of NYSE:BP traded down $0.20 during mid-day trading on Thursday, hitting $37.60. 2,969,372 shares of the company traded hands, compared to its average volume of 5,833,362. The stock has a market cap of $127.33 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.22 and a beta of 0.77. 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 plc has a 12-month low of $35.73 and a 12-month high of $47.16. The stock has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $41.21.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. The business had revenue of $73.75 billion for the quarter, compared to analyst estimates of $79.79 billion. BP had a return on equity of 12.12% and a net margin of 2.97%. As a group, analysts expect that BP plc will post 3.06 earnings per share 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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Institutional Ownership by Quarter for BP (NYSE:BP)

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