Trading Report: The Greatmark Investment Partners Inc. invests in BP PLC (BP) Shares

The Greatmark Investment Partners Inc. invests in BP PLC (BP) Shares

Greatmark Investment Partners Inc. increased its stake in BP PLC (NYSE:BP) by 8.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 79,247 shares of the oil and gas exploration company’s stock after buying an additional 6,200 shares during the period. BP PLC accounts for about 1.3% of Greatmark Investment Partners Inc.’s holdings, making the stock its 27th largest position. Greatmark Investment Partners Inc.’s holdings in BP PLC were worth $2,814,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock valued at $235,994,000 after buying an additional 22,315 shares during the period. Acadian Asset Management LLC raised its stake in BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares during the period. Bank of Montreal Can acquired a new stake in BP PLC during the second quarter valued at $257,496,000. Sanders Capital LLC raised its stake in BP PLC by 0.5% in the second quarter. Sanders Capital LLC now owns 3,213,039 shares of the oil and gas exploration company’s stock valued at $114,095,000 after buying an additional 15,275 shares during the period. Finally, Aviance Capital Management LLC raised its stake in BP PLC by 20.2% in the second quarter. Aviance Capital Management LLC now owns 1,455,102 shares of the oil and gas exploration company’s stock valued at $51,671,000 after buying an additional 244,753 shares during the period. 11.96% of the stock is currently owned by institutional investors and hedge funds.

BP PLC (NYSE:BP) traded down 0.95% during trading on Monday, reaching $35.50. 3,486,497 shares of the company were exchanged. The firm has a 50-day moving average of $34.61 and a 200-day moving average of $33.38. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.53. The firm’s market cap is $111.10 billion.

BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. The business had revenue of $46.44 billion for the quarter, compared to the consensus estimate of $50.22 billion. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company’s quarterly revenue was down 25.7% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, equities analysts forecast that BP PLC will post $1.09 EPS for the current year.

Several equities research analysts have commented on the stock. BNP Paribas restated an “outperform” rating on shares of BP PLC in a research note on Tuesday, October 11th. Barclays PLC restated a “buy” rating on shares of BP PLC in a research note on Thursday, October 6th. Vetr upgraded shares of BP PLC from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, July 5th. Credit Suisse Group AG upgraded shares of BP PLC from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 5th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of BP PLC in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. BP PLC presently has an average rating of “Buy” and an average target price of $38.63.

About BP PLC

BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.

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