Aviance Capital Management LLC Boosted Its Holding in Bp Plc Adr (BP) as Stock Declined

May 24, 2018 - By Dolores Ford

BP p.l.c. (NYSE:BP) Logo

Aviance Capital Management Llc increased its stake in Bp Plc Adr (BP) by 44.43% based on its latest 2017Q4 regulatory filing with the SEC. Aviance Capital Management Llc bought 139,073 shares as the company’s stock declined 3.20% with the market. The institutional investor held 452,124 shares of the integrated oil company at the end of 2017Q4, valued at $19.00 million, up from 313,051 at the end of the previous reported quarter. Aviance Capital Management Llc who had been investing in Bp Plc Adr for a number of months, seems to be bullish on the $152.60 billion market cap company. The stock decreased 1.31% or $0.61 during the last trading session, reaching $45.84. About 6.30 million shares traded or 4.67% up from the average. BP p.l.c. (NYSE:BP) has risen 18.43% since May 24, 2017 and is uptrending. It has outperformed by 6.88% the S&P500.

Aviance Capital Management Llc, which manages about $2.20B and $1.40B US Long portfolio, decreased its stake in Ishares Us Preferred Stock (PFF) by 114,325 shares to 257,932 shares, valued at $9.82M in 2017Q4, according to the filing. It also reduced its holding in Global X Superincome Preferred Etf (SPFF) by 370,361 shares in the quarter, leaving it with 836,713 shares, and cut its stake in Guggenheim S&P 500 Pure Growth Etf (RPG).

More notable recent BP p.l.c. (NYSE:BP) news were published by: Seekingalpha.com which released: “ConocoPhillips And BP May Trade Assets” on May 21, 2018, also Seekingalpha.com with their article: “BP: Growth Momentum And 5% Dividend Yield” published on May 02, 2018, Fool.com published: “3 Dividend Stocks That Pay You More Than Verizon Does” on May 24, 2018. More interesting news about BP p.l.c. (NYSE:BP) were released by: Finance.Yahoo.com and their article: “Is BP pl.c. (NYSE:BP) A Great Dividend Stock?” published on May 01, 2018 as well as Seekingalpha.com‘s news article titled: “3 JVs Between BP And Rosneft” with publication date: May 23, 2018.

BP p.l.c. (NYSE:BP) Ratings Coverage

Among 9 analysts covering BP plc (NYSE:BP), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. BP plc had 13 analyst reports since December 20, 2017 according to SRatingsIntel. The company was maintained on Thursday, December 21 by Scotia Capital. Jefferies maintained it with “Hold” rating and $41.8 target in Friday, January 19 report. The firm has “Buy” rating given on Thursday, March 29 by Citigroup. The company was maintained on Wednesday, February 7 by Piper Jaffray. On Tuesday, April 24 the stock rating was upgraded by Goldman Sachs to “Buy”. As per Tuesday, February 13, the company rating was downgraded by Morgan Stanley. On Tuesday, January 23 the stock rating was maintained by Piper Jaffray with “Buy”. Jefferies maintained BP p.l.c. (NYSE:BP) on Wednesday, December 20 with “Hold” rating. The rating was maintained by Scotia Capital on Monday, April 9 with “Buy”. The firm has “Buy” rating by Societe Generale given on Monday, February 12.

BP p.l.c. (NYSE:BP) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.