BHP Group Limited (NYSE:BHP) Stock Position Reduced by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its position in BHP Group Limited (NYSE:BHP) by 58.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,496 shares of the mining company’s stock after selling 6,246 shares during the quarter. Carnegie Investment Counsel’s holdings in BHP Group were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BHP. Eagle Bay Advisors LLC boosted its stake in BHP Group by 48.9% in the first quarter. Eagle Bay Advisors LLC now owns 600 shares of the mining company’s stock valued at $35,000 after acquiring an additional 197 shares during the period. Pinnacle West Asset Management Inc. grew its stake in BHP Group by 2.6% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company’s stock worth $452,000 after buying an additional 200 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in BHP Group by 0.7% in the second quarter. Sequoia Financial Advisors LLC now owns 27,500 shares of the mining company’s stock worth $1,570,000 after buying an additional 202 shares during the period. Ballentine Partners LLC lifted its stake in BHP Group by 2.6% in the first quarter. Ballentine Partners LLC now owns 8,212 shares of the mining company’s stock valued at $474,000 after buying an additional 205 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in shares of BHP Group by 1.1% during the second quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company’s stock valued at $1,097,000 after acquiring an additional 208 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BHP. Jefferies Financial Group downgraded shares of BHP Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $68.00 in a research report on Friday, October 4th. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. Argus upgraded BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com upgraded BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Three investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

BHP Group Price Performance

Shares of NYSE:BHP opened at $58.18 on Wednesday. The company has a 50 day moving average of $55.65 and a 200-day moving average of $56.94. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. BHP Group Limited has a twelve month low of $50.90 and a twelve month high of $69.11.

BHP Group Increases Dividend

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

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.