US Bancorp DE cut its position in shares of BHP Group PLC (NYSE:BBL) by 9.4% during the 2nd quarter, Holdings Channel reports. The firm owned 54,910 shares of the mining company’s stock after selling 5,700 shares during the quarter. US Bancorp DE’s holdings in BHP Group were worth $2,807,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Csenge Advisory Group purchased a new position in BHP Group in the second quarter valued at about $415,000. Raymond James & Associates boosted its stake in BHP Group by 58.6% in the first quarter. Raymond James & Associates now owns 106,406 shares of the mining company’s stock valued at $5,137,000 after acquiring an additional 39,333 shares during the last quarter. Lincoln National Corp purchased a new position in BHP Group in the second quarter valued at about $655,000. First Trust Advisors LP purchased a new position in BHP Group in the second quarter valued at about $396,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in BHP Group by 52.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 25,327 shares of the mining company’s stock valued at $1,294,000 after acquiring an additional 8,685 shares during the last quarter. Institutional investors and hedge funds own 4.50% of the company’s stock.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of BHP Group from an “underweight” rating to a “neutral” rating in a research note on Friday, July 12th. Jefferies Financial Group reiterated a “hold” rating on shares of BHP Group in a research note on Tuesday, August 6th. Liberum Capital cut shares of BHP Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. ValuEngine cut shares of BHP Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut shares of BHP Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $54.00.
Shares of BBL stock traded down $0.43 during trading on Friday, reaching $44.41. 1,255,590 shares of the company’s stock traded hands, compared to its average volume of 1,278,518. The company has a market capitalization of $46.90 billion, a P/E ratio of 12.13, a PEG ratio of 2.65 and a beta of 0.95. The company has a current ratio of 1.89, a quick ratio of 1.58 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $43.37 and its 200 day moving average is $46.81. BHP Group PLC has a 1 year low of $38.04 and a 1 year high of $51.87.
The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, September 6th will be paid a dividend of $1.56 per share. This is a boost from BHP Group’s previous Semi-Annual dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 5th. BHP Group’s dividend payout ratio is presently 85.25%.
About BHP Group
BHP Group discovers, acquires, develops, and markets natural resources worldwide. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical and energy coal.
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