BHP Group (NYSE:BHP) Raised to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of BHP Group (NYSE:BHP) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat.com reports.

Several other equities research analysts have also recently issued reports on BHP. Citigroup initiated coverage on BHP Group in a report on Friday, May 31st. They issued a buy rating on the stock. Barclays reissued an equal weight rating on shares of BHP Group in a research note on Thursday, May 30th. Finally, StockNews.com raised shares of BHP Group from a buy rating to a strong-buy rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy.

BHP Group Price Performance

NYSE:BHP opened at $55.21 on Monday. BHP Group has a 52 week low of $50.90 and a 52 week high of $69.11. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $139.84 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 3.41 and a beta of 0.96. The stock’s 50-day moving average price is $54.26 and its 200-day moving average price is $56.66.

BHP Group Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be paid a $1.465 dividend. This is an increase from BHP Group’s previous Semi-Annual dividend of $1.44. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 5.2%. BHP Group’s payout ratio is 59.07%.

Hedge Funds Weigh In On BHP Group

Several institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of BHP Group in the second quarter worth $2,301,000. Cetera Investment Advisers grew its stake in shares of BHP Group by 2.1% in the second quarter. Cetera Investment Advisers now owns 55,676 shares of the mining company’s stock worth $3,179,000 after acquiring an additional 1,137 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of BHP Group in the second quarter worth $366,000. Sunbelt Securities Inc. grew its stake in shares of BHP Group by 79.4% during the second quarter. Sunbelt Securities Inc. now owns 3,830 shares of the mining company’s stock worth $219,000 after purchasing an additional 1,695 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of BHP Group by 70.3% during the second quarter. NewEdge Advisors LLC now owns 74,424 shares of the mining company’s stock worth $4,249,000 after purchasing an additional 30,714 shares in the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

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