Shake-Up Alert: 40 Companies Facing Activist Pressure

15. Bluebell Capital Partners at the BP p.l.c. (NYSE:BP)

Stock Return: 1.47%

S&P 500 Return: 7.89%

Investment date: 30/01/2024

Number of hedge funds holding stakes: 40

BP p.l.c. (NYSE:BP) is an energy company that provides carbon products and services while operating through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. Activist hedge fund Blue Capital has been waging an activist campaign against BP p.l.c. (NYSE:BP)’ s plan to focus on clean energy at the expense of its core business.

The hedge fund has attacked the company’s involvement in its solar projects in the UK. The activist investor has consistently voiced disapproval of BP’s approach to shifting to renewable energy, claiming that it conflicts with the best interests of its investors and the broader community by abandoning fossil fuels at an accelerated pace.

BP p.l.c. (NYSE:BP) is down by about 1.7% for the year. According to the Insider Monkey database, the number of hedge funds owning stakes in the company remained flat in Q1 2024 at 40.