Is BP’s Asset Sale Acceptable To These Top Institutional Shareholders?

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

BP (NYSE:BP) recently put its U.S. wind farm operation, one of the largest in the country, up for sale, which indicates the second continued retreat of big oil companies from renewable energy investments as oil and gas projects offer better returns, Reuters reported. Already, the company either sold or earmarked for sale about $38 billion worth of assets, mainly as a way to raise funds to pay for its 2010 U.S. oil spill liabilities, but also as a means to reposition itself as a smaller, leaner company focused on high-margin oil production and exploration. Reports claim that the sale has the potential to raise an additional $1.5 billion. BP would not put a value on any sale, but stated that it expects “attractive offers” for the assets.

These institutional firms indicated owning shares of BP in Q1 2013. They reported owning a total of 871,569 shares on 03/31/2013. The shares closed at $42.35 on 03/31/2013.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

Here are the ten largest positions in BP at the end of March 31, 2013.

Neville, Rodie & Shaw Inc held 438,224 shares on 03/31/2013 worth $18,559,000. This brought the portfolio total to 2.21 percent.

Kempner Capital Management Inc. held 201,220 shares on 03/31/2013 worth $8,522,000. This brought the portfolio total to 3.4 percent.

Private Asset Management Inc held 145,466 shares on 03/31/2013 worth $6,160,485. This brought the portfolio total to 1.32 percent.

Fulton Bank N.A. held 61,530 shares on 03/31/2013 worth $2,606,000. This brought the portfolio total to 0.32 percent.

Burke & Herbert Bank & Trust Co held 14,928 shares on 03/31/2013 worth $632,000. This brought the portfolio total to 0.77 percent.

Park National Corp /OH/ held 10,201 shares on 03/31/2013 worth $432,012. This brought the portfolio total to 0.04 percent.

Wellington Management Co LLP held 47,245,088 shares on 12/31/2012 worth $1,967,285,435. This brought the portfolio total to 0.14 percent.

State Street Corp held 38,707,267 shares on 12/31/2012 worth $1,611,770,574. This brought the portfolio total to 0.23 percent.

Franklin Resources Inc held 25,757,285 shares on 12/31/2012 worth $1,072,533,332. This brought the portfolio total to 0.68 percent.

FMR LLC held 13,468,368 shares on 12/31/2012 worth $560,822,835. This brought the portfolio total to 0.1 percent.

Knowing which stocks have institutional support will help improve your investing skills, and teach you how to ride the waves of strong moves. In fact, “S = Support is Provided By Institutional Investors & Company Insiders” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business