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

Bank of New York Mellon Corp lifted its position in shares of BP p.l.c. (NYSE:BP) by 20.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 432,646 shares of the oil and gas exploration company’s stock after purchasing an additional 74,243 shares during the quarter. Bank of New York Mellon Corp’s holdings in BP were worth $20,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC boosted its position in BP by 16.2% during the fourth quarter. ORG Partners LLC now owns 2,038 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 284 shares during the last quarter. First Horizon Corp lifted its stake in shares of BP by 8.1% in the 4th quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company’s stock valued at $137,000 after purchasing an additional 296 shares during the period. United Community Bank boosted its position in shares of BP by 1.3% during the 4th quarter. United Community Bank now owns 29,456 shares of the oil and gas exploration company’s stock valued at $1,023,000 after purchasing an additional 370 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in BP by 7.0% during the third quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock worth $198,000 after purchasing an additional 374 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in BP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock worth $375,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Trading Up 4.0%

NYSE BP opened at $43.33 on Thursday. 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 p.l.c. has a 52 week low of $31.58 and a 52 week high of $48.27. The business has a 50 day moving average price of $41.09 and a 200-day moving average price of $41.55. The company 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 (NYSE:BP) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.24. The business had revenue of $52.26 billion during the quarter, compared to the consensus estimate of $48.50 billion. BP had a net margin of 1.62% and a return on equity of 12.06%. BP’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. As a group, equities analysts expect that BP p.l.c. will post 5.69 earnings per share for the current fiscal year.

BP News Summary

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.

Analysts Set New Price Targets

A number of research firms have issued reports on BP. Wall Street Zen upgraded BP from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Mizuho began coverage on shares of BP in a research report on Monday, July 20th. They set an “outperform” rating and a $51.00 target price on the stock. Argus raised shares of BP from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, May 11th. Zacks Research cut shares of BP from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, TD Cowen lifted their price target on shares of BP from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.59.

About BP

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.