Successful Portfolios LLC Grows Position in BP plc (NYSE:BP)

Successful Portfolios LLC raised its position in BP plc (NYSE:BP) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,945 shares of the oil and gas exploration company’s stock after purchasing an additional 925 shares during the quarter. Successful Portfolios LLC’s holdings in BP were worth $340,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new stake in shares of BP during the 2nd quarter valued at about $25,000. Marino Stram & Associates LLC increased its holdings in BP by 71.0% during the 1st 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 during the last quarter. Rocky Mountain Advisers LLC purchased a new stake in BP during the 2nd quarter worth approximately $36,000. Next Capital Management LLC purchased a new stake in BP during the 2nd quarter worth approximately $38,000. Finally, Manchester Financial Inc. purchased a new stake in BP during the 2nd quarter worth approximately $40,000. Institutional investors own 10.72% of the company’s stock.

Several equities research analysts have issued reports on BP shares. Kepler Capital Markets restated a “buy” rating on shares of BP in a report on Monday, September 16th. JPMorgan Chase & Co. restated a “buy” rating on shares of BP in a report on Friday, August 30th. Grupo Santander upgraded BP from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.30 to $48.60 in a report on Wednesday, July 31st. Finally, ValuEngine upgraded BP from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $45.72.

Shares of BP traded up $0.30 during mid-day trading on Friday, hitting $37.46. The stock had a trading volume of 6,908,780 shares, compared to its average volume of 7,763,689. The company has a market cap of $126.18 billion, a PE ratio of 9.86, a PEG ratio of 1.20 and a beta of 0.75. The company’s fifty day simple moving average is $37.52 and its two-hundred day simple moving average is $40.49. 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 plc has a fifty-two week low of $35.73 and a fifty-two week high of $45.38.

BP (NYSE:BP) last issued its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. The company had revenue of $73.75 billion during 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%. Equities 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).

Featured Article: Gap Up Stocks

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).

Institutional Ownership by Quarter for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.