Cullinan Associates Inc. Cuts Stake in BP p.l.c. (NYSE:BP)

Cullinan Associates Inc. decreased its holdings in BP p.l.c. (NYSE:BP) by 38.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,600 shares of the oil and gas exploration company’s stock after selling 4,800 shares during the quarter. Cullinan Associates Inc.’s holdings in BP were worth $225,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co raised its holdings in BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc raised its stake in shares of BP by 41.0% during the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after purchasing an additional 646 shares during the period. ORG Partners LLC raised its stake in shares of BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after purchasing an additional 621 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of BP during the third quarter valued at approximately $91,000. Finally, Anchor Investment Management LLC raised its stake in shares of BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Stock Performance

BP stock opened at $31.64 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. The stock has a market capitalization of $85.38 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 2.20 and a beta of 0.64. BP p.l.c. has a 1 year low of $27.82 and a 1 year high of $40.40. The stock’s fifty day moving average is $30.14 and its two-hundred day moving average is $31.43.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BP shares. Wells Fargo & Company dropped their price objective on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 15th. Piper Sandler decreased their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Morgan Stanley decreased their price target on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $42.00 to $36.00 in a research report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.76.

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.