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BP PLC (BP) is a British integrated oil and gas company with operations in more than 70 countries around the world. Its upstream operations were responsible for the production of 2.4 million barrel-of-oil equivalents (BOEs) per day in 2020.In terms of revenue, it is the fourth-largest oil company in the world as of 2020, after PetroChina, Sinopec, and Saudi Aramco.
The company’s downstream operations include oil and gas trading and distribution activities, and the production and marketing of petrochemicals, lubricants, and fuels. As of August 24, 2021, BP has a market capitalization of $82.91 billion.
BP’s ordinary shares are traded publicly on the London Stock Exchange and the Frankfurt Stock Exchange in Germany. BP American Depositary Shares (ADSs) trade publicly on the New York Stock Exchange (NYSE). One BP ADS represents ownership rights in six BP ordinary shares.
As of June 30, 2021, BP had 283,569,587 total shares outstanding. Here are the top five institutional shareholders of the company. The information is current as of June 30, 2021.
Key Takeaways
- British Petroleum, better known as BP, is a global oil company based in the United Kingdom.
- In terms of revenue, BP is the fourth-largest oil company in the world as of 2020, after PetroChina, Sinopec, and Saudi Aramco.
- As a British company, U.S. investors can purchase its American Depositary Shares (ADS) on major stock exchanges.
- The company is owned 8.4% by institutional investors.
- The top five shareholders of British Petroleum are State Street, BlackRock, Dimensional Fund Advisors, Fisher Investments, and Menora Mivtachim.
State Street Corporation
State Street Corporation is a global financial services company based in Boston, Massachusetts, and the largest institutional shareholder of BP. The company’s investment management arm operates under the State Street Global Advisors brand, offering institutional investors a range of investment products and research and advisory services.
State Street Corporation owns roughly 26.8 million shares of BP as of June 30, 2021, which represents 9.5% of the company.
BlackRock, Inc.
BlackRock is the world’s largest investment management firm with $9.5 trillion assets under management (AUM) as of June 30, 2021. The company provides a vast array of financial services, from portfolio construction to analytics and data management to advisory to capital markets support to risk analytics, all to a wide breadth of clients.
BlackRock owns approximately 16.3 million shares of BP as of June 30, 2021, which represents 5.7% of the company.
Dimensional Fund Advisors, Inc.
Dimensional Fund Advisors, Inc. is an American investment manager serving institutional and individual investors in North America, Europe, and Asia. The Dimensional Fund Advisors’ approach to investment is founded on the use of cutting-edge academic research. It has long-nurtured close relationships with leading academics in the field of finance, including the 2013 Nobel Prize Laureate Eugene F. Fama, who is a founding shareholder of the firm and a member of its board of directors.
Dimensional Fund Advisors, Inc. owns 14.1 million shares of BP as of June 30, 2021, equivalent to roughly 5% of the company’s outstanding shares.
The largest oil spill in U.S. history was the BP oil spill at the Deepwater Horizon drilling rig in the Gulf of Mexico. It is estimated the cost to BP for cleanup and other associated activities will be approximately $60 billion.
Fisher Investments
Fisher Investments, based out of Camas, Washington, is a private investment management firm that oversees over $188 billion in assets around the world. The company offers annuity conversion, financial planning, portfolio management, and tailored investment services. The firm offers these services to institutions and private clients.
As of June 30, 2021, Fisher Investments owns approximately 12 million shares of BP, amounting to 4.2% of the company.
Menora Mivtachim Holdings Ltd.
Menora Mivtachim is an Israeli company in the insurance industry that trades on the Tel Aviv Stock Exchange. The firm and its subsidiaries offer all types of insurance, including life insurance, car insurance, business insurance, and health insurance. The company also provides mutual fund management, mortgages, portfolio management, and underwriting services through its subsidiaries.
As of June 30, 2021, Menora Mivtachim owns 8.6 million shares of BP, which is 3% of the total shares outstanding.
Is BP Going Out of Business?
BP is not going out of business. It is currently the world’s fourth-largest oil and gas company in terms of revenue. Though the company has suffered financially due to the Deepwater Horizon oil spill from all of the associated clean-up costs, it is not going out of business. BP, however, has exited from some of its businesses, such as petrochemicals.
What Is the World’s Richest Oil Company?
The world’s richest oil company is the Chinese firm, PetroChina. In 2020, it had revenues of $280 billion. It is followed closely by another Chinese oil and gas firm, Sinopec. Sinopec had 2020 revenues of $271 billion.
Is BP Owned by the British?
BP is a British company, headquartered in London, U.K., but it is not owned by the government. It is a publicly owned company whose shares trade on the London Stock Exchange (LSE), the Frankfurt Stock Exchange, and the New York Stock Exchange (NYSE).