BHP Group Limited (NYSE:BHP) Position Boosted by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. raised its position in shares of BHP Group Limited (NYSE:BHP) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,500 shares of the mining company’s stock after buying an additional 1,350 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in BHP Group were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Huntington National Bank lifted its stake in BHP Group by 17.5% during the third quarter. Huntington National Bank now owns 1,365 shares of the mining company’s stock valued at $85,000 after buying an additional 203 shares in the last quarter. Essex Savings Bank lifted its stake in BHP Group by 3.0% during the fourth quarter. Essex Savings Bank now owns 7,483 shares of the mining company’s stock valued at $365,000 after buying an additional 219 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in BHP Group by 4.6% during the third quarter. First Horizon Advisors Inc. now owns 6,012 shares of the mining company’s stock valued at $373,000 after buying an additional 263 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in BHP Group by 2.5% during the third quarter. Nicholas Hoffman & Company LLC. now owns 11,396 shares of the mining company’s stock valued at $708,000 after buying an additional 275 shares in the last quarter. Finally, Passumpsic Savings Bank lifted its stake in BHP Group by 7.1% during the fourth quarter. Passumpsic Savings Bank now owns 4,873 shares of the mining company’s stock valued at $238,000 after buying an additional 325 shares in the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on BHP shares. StockNews.com lowered shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group reduced their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

BHP Group Price Performance

NYSE BHP opened at $50.67 on Wednesday. The company has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $53.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. BHP Group Limited has a 52-week low of $48.06 and a 52-week high of $63.21.

BHP Group Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 7th will be given a $1.00 dividend. This represents a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 7th.

About BHP Group

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.