Wedbush Securities Inc. Increases Stake in BP plc (NYSE:BP)

Wedbush Securities Inc. grew its stake in BP plc (NYSE:BP) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 55,040 shares of the oil and gas exploration company’s stock after buying an additional 1,902 shares during the quarter. Wedbush Securities Inc.’s holdings in BP were worth $2,295,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Focused Wealth Management Inc purchased a new position in shares of BP in the 2nd quarter valued at about $25,000. Ellis Investment Partners LLC acquired a new stake in shares of BP during the 1st quarter worth about $29,000. Marino Stram & Associates LLC raised its position in shares of 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 acquiring an additional 277 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in shares of BP during the 1st quarter worth about $35,000. Finally, Bray Capital Advisors raised its position in shares of BP by 91.7% during the 1st quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 11.05% of the company’s stock.

BP has been the topic of several research analyst reports. ValuEngine lowered BP from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a research report on Tuesday, April 16th. Credit Suisse Group lowered BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price on the stock. in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.30 to $48.60 in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $51.89.

BP traded up $0.62 during trading on Tuesday, hitting $37.27. 435,927 shares of the stock were exchanged, compared to its average volume of 9,330,515. The company has a market cap of $124.20 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.16 and a beta of 0.74. BP plc has a 1-year low of $36.28 and a 1-year high of $47.16. The company’s fifty day simple moving average is $39.85. 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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