Wall Street Access Asset Management LLC reduced its position in shares of BP p.l.c. (NYSE:BP) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,920 shares of the oil and gas exploration company’s stock after selling 1,500 shares during the period. Wall Street Access Asset Management LLC’s holdings in BP p.l.c. were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BP. BlackRock Inc. raised its stake in shares of BP p.l.c. by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock worth $407,466,000 after acquiring an additional 11,731,496 shares during the last quarter. Morgan Stanley raised its stake in shares of BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after acquiring an additional 623,612 shares during the last quarter. State Street Corp raised its stake in shares of BP p.l.c. by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock worth $1,074,889,000 after acquiring an additional 614,408 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of BP p.l.c. during the 1st quarter worth approximately $17,013,000. Finally, Global Financial Private Capital LLC acquired a new stake in shares of BP p.l.c. during the 1st quarter worth approximately $16,192,000. 10.09% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have recently commented on BP shares. Argus lifted their price target on shares of BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. TheStreet upgraded shares of BP p.l.c. from a “c” rating to a “b-” rating in a research report on Tuesday, May 30th. Zacks Investment Research upgraded shares of BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley reiterated a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of BP p.l.c. in a report on Monday, June 12th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.26.

BP p.l.c. (BP) traded up 0.2390% during trading on Friday, hitting $37.7901. 3,211,479 shares of the company’s stock traded hands. The company’s 50 day moving average price is $35.30 and its 200 day moving average price is $35.05. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $38.68. The company has a market cap of $123.99 billion, a PE ratio of 32.9757 and a beta of 0.93.

BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.18). BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The company had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. During the same quarter last year, the business posted $0.23 earnings per share. BP p.l.c.’s revenue was up 21.7% on a year-over-year basis. Analysts expect that BP p.l.c. will post $1.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Wednesday, August 9th. BP p.l.c.’s payout ratio is 206.96%.

BP p.l.c. Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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Institutional Ownership by Quarter for BP p.l.c. (NYSE:BP)

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