Pacer Advisors Inc. bought a new position in shares of BP plc (NYSE:BP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 99,786 shares of the oil and gas exploration company’s stock, valued at approximately $2,327,000.
Several other large investors have also added to or reduced their stakes in BP. Geode Capital Management LLC grew its position in shares of BP by 185.7% during the fourth quarter. Geode Capital Management LLC now owns 524,758 shares of the oil and gas exploration company’s stock worth $19,804,000 after purchasing an additional 341,111 shares in the last quarter. Pearl River Capital LLC bought a new position in BP during the fourth quarter valued at approximately $231,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in BP during the fourth quarter valued at approximately $238,000. Norges Bank bought a new position in BP during the fourth quarter valued at approximately $23,108,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in BP during the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors own 10.11% of the company’s stock.
BP has been the subject of a number of research reports. UBS Group reissued a “buy” rating on shares of BP in a research note on Monday, June 15th. Royal Bank of Canada reaffirmed an “underperform” rating on shares of BP in a research note on Wednesday, April 29th. Credit Suisse Group reaffirmed a “neutral” rating on shares of BP in a research note on Tuesday, July 14th. Zacks Investment Research lowered BP from a “hold” rating to a “strong sell” rating and set a $25.00 price objective for the company. in a research note on Tuesday, April 21st. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of BP in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.21.
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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