Integrated Investment Consultants LLC Sells 18,808 Shares of BP p.l.c. (NYSE:BP)

Key Points

• Integrated Investment Consultants LLC has reduced its stake in BP p.l.c. by 64.5%, selling 18,808 shares and holding 10,357 shares as of the latest SEC filing, valued at approximately $350,000.
• Other large investors have increased their positions in BP, with Bank of New York Mellon Corp boosting its stake by 486.9% in the same quarter, significantly impacting BP's ownership structure.
• BP's stock received a mix of ratings from analysts, with an average rating of "Hold" and a consensus price target of $35.50, following recent downgrades and upgrades from various investment firms.

Integrated Investment Consultants LLC lessened its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 64.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,357 shares of the oil and gas exploration company's stock after selling 18,808 shares during the period. Integrated Investment Consultants LLC's holdings in BP were worth $350,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Missouri Trust & Investment Co boosted its holdings in shares of BP by 400.0% during the 1st quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 800 shares in the last quarter. GW&K Investment Management LLC boosted its stake in BP by 178.0% in the 1st quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company's stock worth $35,000 after purchasing an additional 662 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in BP in the 4th quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in BP by 580.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,158 shares of the oil and gas exploration company's stock worth $73,000 after purchasing an additional 1,841 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in BP in the 1st quarter worth about $81,000. Institutional investors own 11.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BP. Wells Fargo & Company upped their price target on shares of BP from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Scotiabank reiterated a "sector perform" rating and issued a $34.00 price target (up previously from $30.00) on shares of BP in a research note on Friday, July 11th. Piper Sandler boosted their target price on BP from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. UBS Group lowered BP from a "buy" rating to a "neutral" rating in a research report on Thursday, April 10th. Finally, Morgan Stanley lowered BP from an "equal weight" rating to an "underweight" rating and set a $26.50 target price for the company. in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, BP currently has an average rating of "Hold" and a consensus price target of $35.50.

BP Stock Performance

Shares of NYSE BP traded down $0.58 during midday trading on Wednesday, hitting $32.39. 2,852,949 shares of the company's stock traded hands, compared to its average volume of 11,384,963. The firm has a fifty day moving average of $30.74 and a 200 day moving average of $31.03. The stock has a market capitalization of $85.89 billion, a price-to-earnings ratio of -70.40, a price-to-earnings-growth ratio of 1.91 and a beta of 0.54. BP p.l.c. has a 1 year low of $25.22 and a 1 year high of $35.56. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 1.22.

BP (NYSE:BP - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). The firm had revenue of $46.91 billion during the quarter, compared to analysts' expectations of $40.12 billion. BP had a positive return on equity of 9.51% and a negative net margin of 0.62%. The company's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. On average, analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current year.

About BP

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.