JPMorgan Chase & Co. Buys 74,635 Shares of BHP Group Limited (NYSE:BHP)

JPMorgan Chase & Co. raised its stake in BHP Group Limited (NYSE:BHPGet Rating) by 23.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 397,088 shares of the mining company’s stock after purchasing an additional 74,635 shares during the quarter. JPMorgan Chase & Co.’s holdings in BHP Group were worth $30,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BHP. Creative Financial Designs Inc. ADV purchased a new stake in shares of BHP Group in the 1st quarter valued at $94,000. Quinn Opportunity Partners LLC purchased a new stake in shares of BHP Group in the 4th quarter valued at $483,000. Donoghue Forlines LLC purchased a new stake in shares of BHP Group in the 4th quarter valued at $1,253,000. Castleark Management LLC boosted its stake in shares of BHP Group by 81.0% in the 4th quarter. Castleark Management LLC now owns 6,480 shares of the mining company’s stock valued at $391,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in shares of BHP Group in the 1st quarter valued at $116,000. Institutional investors own 6.53% of the company’s stock.

BHP Group Price Performance

Shares of BHP Group stock opened at $50.21 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $54.40 and a 200 day moving average of $63.98. BHP Group Limited has a 1 year low of $47.35 and a 1 year high of $79.66.

BHP Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 22nd. Investors of record on Friday, September 2nd will be paid a $3.50 dividend. This represents a dividend yield of 11.3%. This is a positive change from BHP Group’s previous semi-annual dividend of $3.00. The ex-dividend date of this dividend is Thursday, September 1st.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of BHP Group from GBX 2,250 ($27.19) to GBX 2,200 ($26.58) in a research note on Wednesday, June 29th. Barclays dropped their price target on shares of BHP Group from GBX 2,700 ($32.62) to GBX 2,400 ($29.00) in a research report on Wednesday, May 25th. The Goldman Sachs Group cut shares of BHP Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 13th. Jefferies Financial Group raised shares of BHP Group to a “buy” rating and set a $82.00 price target for the company in a research report on Friday, June 24th. Finally, Credit Suisse Group increased their price target on shares of BHP Group from GBX 2,200 ($26.58) to GBX 2,300 ($27.79) in a research report on Wednesday, August 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1,782.85.

BHP Group Profile

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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, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

See Also

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

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