Narwhal Capital Management Decreases Stake in BHP Group Limited (NYSE:BHP)

Narwhal Capital Management cut its stake in BHP Group Limited (NYSE:BHPFree Report) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,550 shares of the mining company’s stock after selling 900 shares during the period. Narwhal Capital Management’s holdings in BHP Group were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Eastern Bank acquired a new stake in shares of BHP Group during the third quarter worth $26,000. Asset Dedication LLC lifted its position in BHP Group by 7,516.7% during the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock worth $26,000 after acquiring an additional 451 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in BHP Group during the 2nd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BHP Group in the second quarter valued at about $27,000. Finally, Sound Income Strategies LLC raised its stake in shares of BHP Group by 124.6% in the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after purchasing an additional 294 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Price Performance

NYSE:BHP opened at $56.67 on Wednesday. The company has a 50 day moving average price of $55.99 and a 200-day moving average price of $56.88. BHP Group Limited has a 1-year low of $50.90 and a 1-year high of $69.11. The firm has a market cap of $143.54 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 3.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29.

BHP Group Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were given a $1.465 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 5.2%. This is an increase from BHP Group’s previous Semi-Annual dividend of $1.44. BHP Group’s dividend payout ratio is 62.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BHP. StockNews.com upgraded BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a research note on Monday, September 16th. Jefferies Financial Group downgraded shares of BHP Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $72.00 to $68.00 in a research report on Friday, October 4th. Finally, Argus raised BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Check Out Our Latest Stock Report on BHP

About BHP Group

(Free Report)

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.

See Also

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

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