Norway Savings Bank Decreases Stock Position in BHP Group Limited (NYSE:BHP)

Norway Savings Bank lowered its position in shares of BHP Group Limited (NYSE:BHP) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 16,539 shares of the mining company’s stock after selling 660 shares during the period. Norway Savings Bank’s holdings in BHP Group were worth $808,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BHP. Eastern Bank purchased a new stake in BHP Group during the 3rd quarter worth $26,000. Asset Dedication LLC lifted its stake in shares of BHP Group by 7,516.7% in the second quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock worth $26,000 after acquiring an additional 451 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in BHP Group in the second quarter valued at about $27,000. Sound Income Strategies LLC grew its stake in BHP Group by 124.6% during the 3rd quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in BHP Group during the 3rd quarter worth approximately $50,000. 3.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Argus raised shares of BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a research note on Monday, September 16th. Jefferies Financial Group lowered their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a report on Monday. Finally, StockNews.com raised BHP Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.00.

BHP Group Stock Performance

Shares of NYSE BHP traded down $0.22 during midday trading on Tuesday, hitting $48.27. The company’s stock had a trading volume of 1,299,480 shares, compared to its average volume of 2,400,366. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. BHP Group Limited has a 1-year low of $48.21 and a 1-year high of $66.13. The firm’s fifty day moving average price is $52.14 and its 200-day moving average price is $54.69. The firm has a market cap of $122.40 billion, a P/E ratio of 10.45 and a beta of 0.95.

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.