Bank of New York Mellon Corp Has $20.33 Million Holdings in BP p.l.c. $BP

Key Points

• Bank of New York Mellon increased its BP stake by 20.7% in the first quarter, owning 432,646 shares valued at approximately $20.33 million. Institutional investors collectively own 11.01% of BP.
• BP reported quarterly EPS of $1.24, beating estimates of $1.00, while revenue rose 11.4% year over year to $52.26 billion. Analysts expect full-year EPS of $5.69.
• Analyst sentiment is generally positive, with BP holding a “Moderate Buy” consensus rating and a $46.59 average price target; potential asset sales could also help reduce debt and support portfolio restructuring.

Bank of New York Mellon Corp raised its holdings in BP p.l.c. (NYSE:BP - Free Report) by 20.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 432,646 shares of the oil and gas exploration company's stock after acquiring an additional 74,243 shares during the period. Bank of New York Mellon Corp's holdings in BP were worth $20,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. grew its holdings in shares of BP by 7.8% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 6,376 shares of the oil and gas exploration company's stock valued at $300,000 after purchasing an additional 464 shares during the last quarter. Archer Investment Corp lifted its stake in BP by 20.5% in the 1st quarter. Archer Investment Corp now owns 21,323 shares of the oil and gas exploration company's stock valued at $1,002,000 after purchasing an additional 3,621 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in BP by 2.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 142,920 shares of the oil and gas exploration company's stock valued at $6,717,000 after buying an additional 3,090 shares in the last quarter. Mosaic Family Wealth Partners LLC bought a new stake in shares of BP during the first quarter worth $260,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of BP by 62.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,261 shares of the oil and gas exploration company's stock worth $5,229,000 after buying an additional 42,894 shares in the last quarter. Institutional investors own 11.01% of the company's stock.

Key Headlines Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: Higher oil prices support Q2 expectations: Analysts have raised estimates ahead of BP’s second-quarter results, although lower seasonal production could limit the benefit. Stronger commodity prices would support earnings and cash flow. Important Factors to Watch Ahead of BP's Q2 Earnings Release
• Positive Sentiment: Potential sales could improve BP’s balance sheet: BP is reportedly in advanced discussions to sell its Lightsource renewable-energy subsidiary to a consortium backed by Kuwait’s sovereign wealth fund. Monetizing the business could reduce debt and sharpen BP’s focus on its higher-return oil and gas operations, though it would represent a retreat from its earlier renewables strategy. BP Is Looking To Sell Lightsource And Pull Back From Renewables
• Positive Sentiment: Interest in Egyptian gas assets signals monetization potential: Energean, Carlyle, Dragon Oil and Artemis Energy are reportedly among bidders for BP’s West Nile Delta gas assets. A competitive sale could generate cash and support BP’s portfolio-restructuring efforts. Energean, Carlyle among bidders for BP gas assets off Egypt
• Neutral Sentiment: BP is selling a 15% stake in an Iraqi oil field to Türkiye’s national oil and gas company. The transaction may streamline BP’s portfolio and raise cash, but the financial terms and effect on production and earnings were not provided. BP sells 15% stake in Iraq oil field
• Neutral Sentiment: Plans to increase Mediterranean gas output in Egypt could provide longer-term production and cash-flow support, but the article did not provide production targets or timing. BP to boost Egypt’s Mediterranean gas output
• Negative Sentiment: Erste Group lowered its FY2027 EPS forecast to $3.90 from $3.96, indicating modestly softer long-term earnings expectations despite the broader consensus estimate of $5.69 for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Scotiabank raised their price objective on BP from $41.00 to $58.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. BNP Paribas Exane set a $57.00 target price on BP and gave the stock an "outperform" rating in a report on Friday, April 17th. Royal Bank Of Canada raised BP from a "sector perform" rating to an "outperform" rating in a research note on Monday, May 11th. Mizuho initiated coverage on BP in a report on Monday, July 20th. They set an "outperform" rating and a $51.00 price target on the stock. Finally, Wall Street Zen raised BP from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, BP currently has an average rating of "Moderate Buy" and a consensus target price of $46.59.

BP Stock Performance

Shares of BP stock opened at $43.33 on Thursday. The stock has a market cap of $113.49 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 0.71 and a beta of 0.17. BP p.l.c. has a twelve month low of $31.58 and a twelve month high of $48.27. The company's fifty day moving average is $41.09 and its 200 day moving average is $41.55. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68.

BP (NYSE:BP - Get Free Report) last announced its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The business had revenue of $52.26 billion during the quarter, compared to analyst estimates of $48.50 billion. During the same period last year, the company earned $0.53 EPS. BP's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that BP p.l.c. will post 5.69 EPS for the current year.

BP Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

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