Covington Capital Management Buys 15,409 Shares of BHP Group (NYSE:BHP)

Covington Capital Management boosted its stake in BHP Group (NYSE:BHP) by 106.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,918 shares of the mining company’s stock after purchasing an additional 15,409 shares during the quarter. Covington Capital Management’s holdings in BHP Group were worth $2,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of BHP Group by 0.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 42,225 shares of the mining company’s stock valued at $3,075,000 after acquiring an additional 157 shares in the last quarter. CAPROCK Group Inc. grew its position in BHP Group by 2.9% during the 2nd quarter. CAPROCK Group Inc. now owns 5,585 shares of the mining company’s stock worth $407,000 after acquiring an additional 160 shares during the last quarter. Marks Group Wealth Management Inc grew its position in BHP Group by 3.5% during the 2nd quarter. Marks Group Wealth Management Inc now owns 5,167 shares of the mining company’s stock worth $376,000 after acquiring an additional 173 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in BHP Group by 2.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,976 shares of the mining company’s stock worth $508,000 after acquiring an additional 184 shares during the last quarter. Finally, Avalon Investment & Advisory grew its position in BHP Group by 2.4% during the 1st quarter. Avalon Investment & Advisory now owns 7,911 shares of the mining company’s stock worth $549,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 5.62% of the company’s stock.

BHP Group stock opened at $56.90 on Thursday. The stock has a market cap of $83.81 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.36 and a current ratio of 1.63. BHP Group has a one year low of $46.90 and a one year high of $82.07. The stock has a fifty day moving average of $62.17 and a 200 day moving average of $70.13.

The business also recently declared a semi-annual dividend, which was paid on Tuesday, September 21st. Shareholders of record on Friday, September 3rd were issued a dividend of $4.00 per share. This represents a yield of 9.6%. The ex-dividend date of this dividend was Thursday, September 2nd. This is a positive change from BHP Group’s previous semi-annual dividend of $2.02. BHP Group’s payout ratio is currently 118.69%.

BHP has been the topic of a number of recent analyst reports. Bank of America lowered BHP Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $59.00 to $39.00 in a research report on Tuesday, September 21st. Berenberg Bank lowered BHP Group from a “buy” rating to a “hold” rating in a research report on Monday, September 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of BHP Group in a research report on Tuesday, June 29th. Morgan Stanley upgraded BHP Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 22nd. Finally, Liberum Capital lowered BHP Group from a “hold” rating to a “sell” rating in a research report on Friday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $768.67.

BHP Group Profile

BHP Group Ltd. engages in the exploration, development, production and processing of iron ore, metallurgical coal and copper. It operates through the following segments: Petroleum, Copper, Iron Ore and Coal. The Petroleum segment explores, develops and produces oil and gas. The Copper segment refers to the mining of copper, silver, lead, zinc, molybdenum, uranium and gold.

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Institutional Ownership by Quarter for BHP Group (NYSE:BHP)

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