Confluence Investment Management LLC Increases Position in BHP Group Limited (NYSE:BHP)

Confluence Investment Management LLC increased its stake in shares of BHP Group Limited (NYSE:BHP) by 11.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,657 shares of the mining company’s stock after acquiring an additional 885 shares during the period. Confluence Investment Management LLC’s holdings in BHP Group were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BHP. Asset Dedication LLC grew its stake in shares of BHP Group by 7,516.7% in the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after purchasing an additional 451 shares during the last quarter. Eastern Bank acquired a new stake in shares of BHP Group during the third quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BHP Group in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC acquired a new position in BHP Group in the 2nd quarter valued at $27,000. Finally, Sound Income Strategies LLC raised its position in BHP Group by 124.6% during the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after buying an additional 294 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

BHP Group Price Performance

Shares of BHP opened at $55.19 on Friday. BHP Group Limited has a twelve month low of $50.90 and a twelve month high of $69.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. The firm’s 50-day moving average is $56.50 and its two-hundred day moving average is $56.69.

BHP Group Increases Dividend

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

Analysts Set New Price Targets

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

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