Greylin Investment Mangement Inc. lessened its holdings in shares of BP plc (NYSE:BP) by 24.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 259,800 shares of the oil and gas exploration company’s stock after selling 83,805 shares during the quarter. BP comprises approximately 2.4% of Greylin Investment Mangement Inc.’s holdings, making the stock its 11th largest position. Greylin Investment Mangement Inc.’s holdings in BP were worth $9,870,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BP. Focused Wealth Management Inc acquired a new stake in shares of BP in the second quarter valued at $25,000. Marino Stram & Associates LLC lifted its holdings in shares of BP by 71.0% in the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 277 shares during the period. Rocky Mountain Advisers LLC acquired a new stake in shares of BP in the second quarter valued at $36,000. Next Capital Management LLC acquired a new stake in shares of BP during the second quarter worth $38,000. Finally, Manchester Financial Inc. acquired a new stake in shares of BP during the second quarter worth $40,000. Institutional investors own 10.72% of the company’s stock.
NYSE:BP traded up $0.38 during mid-day trading on Friday, hitting $37.54. 4,513,517 shares of the company’s stock traded hands, compared to its average volume of 7,763,689. The firm has a 50 day moving average of $37.52 and a two-hundred day moving average of $40.49. BP plc has a 12 month low of $35.73 and a 12 month high of $45.38. The firm has a market capitalization of $126.18 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65.
A number of equities research analysts have recently issued reports on BP shares. BMO Capital Markets started coverage on BP in a research report on Tuesday, August 20th. They set an “outperform” rating and a $53.00 target price on the stock. Kepler Capital Markets reaffirmed a “buy” rating on shares of BP in a research report on Monday, September 16th. ValuEngine raised BP from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group lowered BP from an “outperform” rating to a “neutral” rating and set a $41.06 target price on the stock. in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BP in a research report on Friday, August 30th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $45.72.
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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