20 Takeover Rumors Hedge Funds Are Buying

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

No. of Hedge Funds: 44

A global integrated energy company, BP p.l.c. (NYSE:BP) is located in the United Kingdom and is engaged in oil and gas exploration, refining, marketing, and renewable energy solutions. Their operations extend over 70 countries and cover a range of consumer segments, including retail, industrial, and government customers. BP p.l.c. (NYSE:BP) is transitioning toward a low-carbon portfolio through investments in hydrogen, wind, and EV charging infrastructure, thus setting itself apart from other competitors in the market, including Shell. With ambitious net-zero targets, the company aims to reshape its long-term energy mix in the upcoming years.

Speculations have been going around about BP p.l.c. (NYSE:BP) becoming a potential target for takeovers. The company has been underperforming compared to its peers in the market. Additionally, in its most recent quarter in 2024, the company saw its results fall short of market expectations, strengthening the takeover rumors. Concerning the acquirer, analysts believe that rivals for the company with deep enough pockets would make the bid. Though some reports point in the direction of Shell, there has not been any announcement from the two companies to date.

According to the Insider Monkey database, 44 hedge funds have stakes in the company’s ownership. Strong institutional confidence in a company with declining financials contributes positively to the takeover rumor.