Unusual Put Option Trade in BP Worth $1,224.39K

By 247patrick Updated Apr 28, 12:50PM EDT · Published Apr 28, 3:49AM EDT

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Unusual Put Option Trade in BP Worth $1,224.39K — © jetcityimage / iStock Editorial via Getty Images

On April 27, 2023 at 15:46:14 ET an unusually large $1,224.39K block of Put contracts in BP plc – ADR (BP) was bought, with a strike price of $40.00 / share, expiring in 267 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.14 sigmas above the mean, placing it in the 99.96th percentile of all recent large trades made in BP options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1293 funds or institutions reporting positions in BP plc – ADR. This is a decrease of 315 owner(s) or 19.59% in the last quarter. Average portfolio weight of all funds dedicated to BP is 0.37%, a decrease of 22.55%. Total shares owned by institutions decreased in the last three months by 82.55% to 326,437K shares. The put/call ratio of BP is 0.82, indicating a bullish outlook.

Analyst Price Forecast Suggests 20.20% Upside

As of April 24, 2023, the average one-year price target for BP plc – ADR is $47.38. The forecasts range from a low of $38.68 to a high of $78.53. The average price target represents an increase of 20.20% from its latest reported closing price of $39.42.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for BP plc – ADR is $242,664MM, an increase of 1.50%. The projected annual non-GAAP EPS is $1.11.

What are Other Shareholders Doing?

NORTHWESTERN MUTUAL SERIES FUND INC – Large Cap Core Stock Portfolio holds 249K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 154K shares, representing an increase of 38.12%. The firm increased its portfolio allocation in BP by 86.13% over the last quarter.

Financial Sense Advisors holds 92K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 71K shares, representing an increase of 23.27%. The firm increased its portfolio allocation in BP by 52.84% over the last quarter.

BlackRock Variable Series Funds, Inc. – BlackRock Basic Value V.I. Fund Class I holds 269K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 271K shares, representing a decrease of 0.78%. The firm increased its portfolio allocation in BP by 11.33% over the last quarter.

AE Wealth Management holds 387K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 373K shares, representing an increase of 3.52%. The firm increased its portfolio allocation in BP by 125.62% over the last quarter.

Gradient Investments holds 16K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 17K shares, representing a decrease of 5.70%. The firm decreased its portfolio allocation in BP by 11.12% over the last quarter.

BP Background Information
(This description is provided by the company.)

BP plc is a British oil and gas company headquartered in London, England. It is one of the worlds seven oil and gas supermajors.

See all BP plc – ADR regulatory filings.

This article originally appeared on Fintel