Ovata Capital Management Ltd Sells 2,100 Shares of BHP Group Limited (NYSE:BHP)

Ovata Capital Management Ltd reduced its position in BHP Group Limited (NYSE:BHP) by 26.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,900 shares of the mining company’s stock after selling 2,100 shares during the quarter. BHP Group comprises approximately 0.1% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 29th biggest position. Ovata Capital Management Ltd’s holdings in BHP Group were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of BHP Group by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,603,624 shares of the mining company’s stock worth $348,041,000 after acquiring an additional 642,765 shares during the period. Raymond James Financial Inc. bought a new position in BHP Group during the fourth quarter worth about $25,878,000. Norges Bank acquired a new stake in BHP Group during the fourth quarter valued at approximately $20,574,000. Fisher Asset Management LLC grew its stake in shares of BHP Group by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 22,225,134 shares of the mining company’s stock valued at $1,085,253,000 after purchasing an additional 280,258 shares during the period. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of BHP Group in the 4th quarter worth approximately $9,323,000. Institutional investors and hedge funds own 3.79% of the company’s stock.

Wall Street Analyst Weigh In

BHP has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.00.

BHP Group Price Performance

BHP Group stock opened at $42.08 on Friday. BHP Group Limited has a 52 week low of $41.67 and a 52 week high of $63.21. The firm has a market cap of $106.69 billion, a P/E ratio of 9.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.70. The business’s fifty day moving average is $49.71 and its two-hundred day moving average is $52.24.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 7th were issued a dividend of $1.00 per share. This represents a yield of 4.8%. The ex-dividend date was Friday, March 7th. BHP Group’s dividend payout ratio is currently 44.77%.

BHP Group Profile

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.