DAVENPORT & Co LLC Sells 16,549 Shares of BP plc (NYSE:BP)

DAVENPORT & Co LLC decreased its holdings in shares of BP plc (NYSE:BP) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,822 shares of the oil and gas exploration company’s stock after selling 16,549 shares during the period. DAVENPORT & Co LLC’s holdings in BP were worth $859,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Patten & Patten Inc. TN lifted its stake in BP by 0.9% during the second quarter. Patten & Patten Inc. TN now owns 51,343 shares of the oil and gas exploration company’s stock worth $1,197,000 after purchasing an additional 434 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of BP by 48.1% in the second quarter. Sound Income Strategies LLC now owns 1,407 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 457 shares during the period. Advisors Management Group Inc. ADV increased its holdings in shares of BP by 4.3% in the first quarter. Advisors Management Group Inc. ADV now owns 11,298 shares of the oil and gas exploration company’s stock worth $276,000 after buying an additional 468 shares during the period. Simmons Bank increased its holdings in shares of BP by 1.5% in the first quarter. Simmons Bank now owns 33,055 shares of the oil and gas exploration company’s stock worth $806,000 after buying an additional 475 shares during the period. Finally, Jacobi Capital Management LLC increased its holdings in shares of BP by 1.9% in the first quarter. Jacobi Capital Management LLC now owns 25,652 shares of the oil and gas exploration company’s stock worth $615,000 after buying an additional 487 shares during the period. 10.11% of the stock is owned by hedge funds and other institutional investors.

BP stock opened at $22.04 on Friday. The stock’s 50 day simple moving average is $23.36 and its two-hundred day simple moving average is $27.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 1.01. The stock has a market cap of $74.42 billion, a price-to-earnings ratio of -22.72 and a beta of 0.80. BP plc has a fifty-two week low of $15.51 and a fifty-two week high of $40.23.

Several research firms have recently commented on BP. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating in a report on Wednesday, May 13th. Wolfe Research upgraded BP from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Tuesday, June 2nd. Morgan Stanley downgraded BP from an “equal weight” rating to an “underweight” rating in a report on Thursday, May 14th. Societe Generale downgraded BP from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Goldman Sachs Group restated a “buy” rating on shares of BP in a report on Tuesday, July 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.21.

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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