Balyasny Asset Management L.P. Increases Stock Position in BHP Group Limited (NYSE:BHP)

Balyasny Asset Management L.P. grew its holdings in shares of BHP Group Limited (NYSE:BHP - Free Report) by 1,898.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707,405 shares of the mining company's stock after acquiring an additional 672,016 shares during the period. Balyasny Asset Management L.P.'s holdings in BHP Group were worth $34,543,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BHP. Northern Trust Corp increased its holdings in BHP Group by 58.5% in the fourth quarter. Northern Trust Corp now owns 2,294,562 shares of the mining company's stock worth $112,043,000 after purchasing an additional 846,963 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BHP Group during the 4th quarter worth approximately $25,878,000. Norges Bank bought a new stake in shares of BHP Group in the 4th quarter valued at $20,574,000. Fisher Asset Management LLC lifted its position in shares of BHP Group by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 22,225,134 shares of the mining company's stock valued at $1,085,253,000 after acquiring an additional 280,258 shares during the period. Finally, SPX Gestao de Recursos Ltda bought a new position in BHP Group during the fourth quarter worth $9,323,000. 3.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BHP shares. StockNews.com lowered shares of BHP Group from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th. Clarkson Capital upgraded BHP Group to a "strong-buy" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $53.00.

BHP Group Stock Up 1.0 %

Shares of NYSE:BHP traded up $0.50 during midday trading on Friday, hitting $48.67. 2,170,874 shares of the company's stock were exchanged, compared to its average volume of 2,544,835. 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 12 month low of $39.73 and a 12 month high of $63.21. The company has a market cap of $123.42 billion, a PE ratio of 11.06 and a beta of 0.86. The stock has a 50 day moving average price of $47.70 and a 200-day moving average price of $50.16.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 7th were paid a $1.00 dividend. This represents a dividend yield of 4.8%. The ex-dividend date was Friday, March 7th. BHP Group's dividend payout ratio (DPR) is presently 44.77%.

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.