Canal Insurance Company Maintains Stake in Bristol Myers Squibb Ord (BMY); Barnett & Company Upped Its Stake in Bp Plc (BP) by $905,520

April 17, 2018 - By Moses P. Lee

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Canal Insurance Company increased its stake in Bristol Myers Squibb Ord (BMY) by 191.67% based on its latest 2017Q4 regulatory filing with the SEC. Canal Insurance Company bought 115,000 shares as the company’s stock rose 2.38% while stock markets declined. The institutional investor held 175,000 shares of the major pharmaceuticals company at the end of 2017Q4, valued at $10.72M, up from 60,000 at the end of the previous reported quarter. Canal Insurance Company who had been investing in Bristol Myers Squibb Ord for a number of months, seems to be bullish on the $86.21B market cap company. The stock decreased 2.51% or $1.355 during the last trading session, reaching $52.725. About 22.39M shares traded or 197.57% up from the average. Bristol-Myers Squibb Company (NYSE:BMY) has risen 11.37% since April 17, 2017 and is uptrending. It has underperformed by 0.18% the S&P500.

Barnett & Company Inc increased its stake in Bp Plc (BP) by 125.35% based on its latest 2017Q4 regulatory filing with the SEC. Barnett & Company Inc bought 21,560 shares as the company’s stock declined 3.20% with the market. The institutional investor held 38,760 shares of the integrated oil company at the end of 2017Q4, valued at $1.63 million, up from 17,200 at the end of the previous reported quarter. Barnett & Company Inc who had been investing in Bp Plc for a number of months, seems to be bullish on the $139.62 billion market cap company. The stock increased 0.16% or $0.07 during the last trading session, reaching $42.79. About 3.58M shares traded. BP p.l.c. (NYSE:BP) has risen 18.43% since April 17, 2017 and is uptrending. It has outperformed by 6.88% the S&P500.

Among 29 analysts covering BP (NYSE:BP), 21 have Buy rating, 2 Sell and 6 Hold. Therefore 72% are positive. BP had 60 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Underperform” rating by Bank of America on Friday, June 30. On Monday, November 2 the stock rating was upgraded by Morgan Stanley to “Equalweight”. The rating was upgraded by BMO Capital Markets to “Outperform” on Monday, September 18. Evercore upgraded BP p.l.c. (NYSE:BP) on Tuesday, November 3 to “Buy” rating. On Friday, March 18 the stock rating was initiated by Nomura with “Neutral”. The rating was reinitiated by BNP Paribas with “Outperform” on Tuesday, October 11. The firm has “Focus Stock” rating given on Monday, December 14 by Howard Weil. The rating was maintained by Piper Jaffray with “Buy” on Wednesday, February 7. The company was maintained on Tuesday, October 24 by Cowen & Co. CLSA downgraded BP p.l.c. (NYSE:BP) on Tuesday, November 15 to “Outperform” rating.

Barnett & Company Inc, which manages about $382.43 million and $204.84 million US Long portfolio, decreased its stake in Six Flags Entmt Corp New (NYSE:SIX) by 6,208 shares to 63,576 shares, valued at $4.23M in 2017Q4, according to the filing. It also reduced its holding in Timken Co (NYSE:TKR) by 6,750 shares in the quarter, leaving it with 700 shares, and cut its stake in Chicago Bridge & Iron Co (NYSE:CBI).

Canal Insurance Company, which manages about $280.89M US Long portfolio, decreased its stake in Flowers Foods Ord (NYSE:FLO) by 16,744 shares to 119,999 shares, valued at $2.32 million in 2017Q4, according to the filing. It also reduced its holding in Microsoft Ord (NASDAQ:MSFT) by 8,000 shares in the quarter, leaving it with 132,000 shares, and cut its stake in Garmin Ord (NASDAQ:GRMN).

Since December 12, 2017, it had 1 insider purchase, and 1 sale for $85,985 activity. Lynch Thomas J. Jr. had sold 5,300 shares worth $335,172 on Tuesday, December 12.

Bristol-Myers Squibb Company (NYSE:BMY) Institutional Positions Chart

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By1 Moses P. Lee

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