Investors Purchase Large Volume of BHP Group Put Options (NYSE:BHP)

BHP Group Limited (NYSE:BHP) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 6,375 put options on the company. This is an increase of 96% compared to the typical volume of 3,257 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Liberum Capital reaffirmed a “hold” rating on shares of BHP Group in a research report on Tuesday, March 5th. Citigroup raised shares of BHP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.

BHP Group Stock Performance

BHP opened at $58.41 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.22 and a current ratio of 1.57. The firm’s 50-day moving average price is $58.11 and its 200-day moving average price is $60.12. BHP Group has a 52-week low of $54.28 and a 52-week high of $69.11.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a $1.44 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 5.2%.

Institutional Trading of BHP Group

A number of hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. lifted its holdings in BHP Group by 110.0% in the second quarter. Salem Investment Counselors Inc. now owns 460 shares of the mining company’s stock valued at $26,000 after acquiring an additional 241 shares during the period. Covestor Ltd purchased a new position in shares of BHP Group during the 1st quarter valued at approximately $26,000. Russell Investments Group Ltd. acquired a new position in shares of BHP Group in the 1st quarter valued at $27,000. Eagle Bay Advisors LLC purchased a new stake in BHP Group during the fourth quarter worth $28,000. Finally, Rise Advisors LLC acquired a new stake in BHP Group during the first quarter valued at $29,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

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