November 10, 2019 at 3:56 pm

Parallel Advisors LLC Has $225,000 Stock Holdings in BP plc (NYSE:BP)

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Parallel Advisors LLC lessened its stake in BP plc (NYSE:BP) by 5.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,917 shares of the oil and gas exploration company’s stock after selling 372 shares during the quarter. Parallel Advisors LLC’s holdings in BP were worth $225,000 as of its most recent SEC filing.

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Several other institutional investors and hedge funds have also made changes to their positions in the company. Park National Corp OH grew its position in shares of BP by 15.0% in the second quarter. Park National Corp OH now owns 95,449 shares of the oil and gas exploration company’s stock valued at $3,980,000 after purchasing an additional 12,478 shares in the last quarter. Private Asset Management Inc. lifted its holdings in BP by 1.7% in the second quarter. Private Asset Management Inc. now owns 170,929 shares of the oil and gas exploration company’s stock valued at $7,128,000 after acquiring an additional 2,825 shares during the last quarter. South Texas Money Management Ltd. lifted its holdings in BP by 0.3% in the second quarter. South Texas Money Management Ltd. now owns 939,586 shares of the oil and gas exploration company’s stock valued at $39,181,000 after acquiring an additional 2,710 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in BP by 4.8% in the second quarter. Beese Fulmer Investment Management Inc. now owns 10,134 shares of the oil and gas exploration company’s stock valued at $423,000 after acquiring an additional 460 shares during the last quarter. Finally, Rockland Trust Co. lifted its holdings in BP by 9.8% in the second quarter. Rockland Trust Co. now owns 9,305 shares of the oil and gas exploration company’s stock valued at $388,000 after acquiring an additional 829 shares during the last quarter. Institutional investors own 10.78% of the company’s stock.

NYSE:BP traded down $0.13 during trading hours on Friday, reaching $39.19. 6,955,769 shares of the stock were exchanged, compared to its average volume of 6,209,801. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $38.15 and a two-hundred day moving average of $39.64. BP plc has a twelve month low of $35.73 and a twelve month high of $45.38. The company has a market capitalization of $133.51 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.38 and a beta of 0.75.

A number of research analysts recently commented on BP shares. Kepler Capital Markets reiterated a “buy” rating and issued a $650.00 price objective on shares of BP in a report on Wednesday, October 30th. BMO Capital Markets started coverage on BP in a report on Tuesday, August 20th. They issued an “outperform” rating and a $53.00 price objective on the stock. ValuEngine upgraded BP from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group reiterated a “buy” rating on shares of BP in a report on Monday, October 28th. Finally, Barclays decreased their price objective on BP from $700.00 to $650.00 and set an “overweight” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $273.43.

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).

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Institutional Ownership by Quarter for BP (NYSE:BP)

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