BP p.l.c. (NYSE:BP) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management decreased its holdings in BP p.l.c. (NYSE:BP) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,428 shares of the oil and gas exploration company’s stock after selling 2,084 shares during the quarter. Meritage Portfolio Management’s holdings in BP were worth $3,116,000 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. Altrius Capital Management Inc grew its holdings in BP by 9.9% during the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after acquiring an additional 20,976 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of BP by 83.3% during the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock worth $1,577,000 after purchasing an additional 24,252 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in BP by 2.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock valued at $19,526,000 after buying an additional 14,436 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in BP during the 3rd quarter worth approximately $857,000. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of BP by 5.4% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after acquiring an additional 23,325 shares in the last quarter. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BP shares. Wells Fargo & Company reduced their price target on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. StockNews.com cut shares of BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. The Goldman Sachs Group upgraded BP to a “strong-buy” rating in a research report on Friday, October 11th. Royal Bank of Canada restated a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Finally, Morgan Stanley cut their target price on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Twelve investment analysts have rated the stock with a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.76.

BP Stock Up 0.1 %

BP stock opened at $31.67 on Thursday. The company’s 50-day moving average price is $30.20 and its two-hundred day moving average price is $31.41. The stock has a market cap of $85.46 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.20 and a beta of 0.64. BP p.l.c. has a 52 week low of $27.82 and a 52 week high of $40.40. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

BP Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.