Today: Today, Monarch Capital Management Inc. cuts position of BP PLC (BP)

Today, Monarch Capital Management Inc. cuts position of BP PLC (BP)

Monarch Capital Management Inc. cut its stake in shares of BP PLC (NYSE:BP) by 47.9% during the second quarter, Holdings Channel reports. The firm owned 47,451 shares of the oil and gas exploration company’s stock after selling 43,674 shares during the period. Monarch Capital Management Inc.’s holdings in BP PLC were worth $1,685,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Rockefeller Financial Services Inc. increased its stake in shares of BP PLC by 3.3% in the second quarter. Rockefeller Financial Services Inc. now owns 320,984 shares of the oil and gas exploration company’s stock valued at $11,398,000 after buying an additional 10,194 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of BP PLC by 80.4% in the second quarter. GW&K Investment Management LLC now owns 920,581 shares of the oil and gas exploration company’s stock valued at $32,690,000 after buying an additional 410,174 shares in the last quarter. Aviance Capital Management LLC increased its stake in shares of 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 in the last quarter. Seminole Management Co. Inc. increased its stake in shares of BP PLC by 82.1% in the second quarter. Seminole Management Co. Inc. now owns 1,310,369 shares of the oil and gas exploration company’s stock valued at $46,531,000 after buying an additional 590,690 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 11.96% of the company’s stock.

Shares of BP PLC (NYSE:BP) traded up 1.35% on Tuesday, hitting $35.98. The stock had a trading volume of 2,640,116 shares. BP PLC has a one year low of $27.01 and a one year high of $37.53. The stock’s market capitalization is $112.60 billion. The firm’s 50 day moving average is $34.65 and its 200-day moving average is $33.46.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 25.7% on a year-over-year basis. Equities research analysts expect that BP PLC will post $1.09 earnings per share for the current fiscal year.

BP has been the subject of several analyst reports. Vetr raised BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.28 target price for the company in a report on Wednesday, September 21st. Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a report on Sunday, September 11th. BNP Paribas reaffirmed an “outperform” rating on shares of BP PLC in a report on Tuesday, October 11th. Barclays PLC reaffirmed a “buy” rating on shares of BP PLC in a report on Thursday, October 6th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of BP PLC in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.63.

BP PLC Company Profile

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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