BHP Group Limited Sponsored ADR (NYSE:BHP) Sees Large Decline in Short Interest

Key Points

• Short interest fell 16.3% to 15,089,550 shares as of Feb 27 (from 18,023,857 on Feb 12), giving a short-interest ratio of about 3.5 days and roughly 0.6% of shares sold short.
• Several institutional investors materially increased stakes—Morgan Stanley raised its holding 22.8% to 13.8M shares (~$833.1M), while SIH Partners and Bank of Montreal grew positions by 937.5% and 264.4%, respectively.
• BHP declared a dividend of $1.46 per share payable Mar 26 (record/ex-div Mar 6), and analysts' consensus remains a "Hold" with an average target price of $53.33.

BHP Group Limited Sponsored ADR (NYSE:BHP - Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 15,089,550 shares, a drop of 16.3% from the February 12th total of 18,023,857 shares. Based on an average daily trading volume, of 4,322,246 shares, the short-interest ratio is currently 3.5 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 4,322,246 shares, the short-interest ratio is currently 3.5 days.

Institutional Investors Weigh In On BHP Group

Several institutional investors have recently modified their holdings of BHP. Morgan Stanley increased its stake in BHP Group by 22.8% in the 4th quarter. Morgan Stanley now owns 13,800,183 shares of the mining company's stock valued at $833,117,000 after purchasing an additional 2,562,747 shares in the last quarter. SIH Partners LLLP grew its holdings in BHP Group by 937.5% in the third quarter. SIH Partners LLLP now owns 1,856,704 shares of the mining company's stock valued at $103,511,000 after purchasing an additional 1,677,739 shares during the last quarter. Bank of Montreal Can increased its position in shares of BHP Group by 264.4% in the fourth quarter. Bank of Montreal Can now owns 1,358,585 shares of the mining company's stock valued at $82,018,000 after buying an additional 985,794 shares in the last quarter. Bank of America Corp DE increased its position in shares of BHP Group by 25.2% in the third quarter. Bank of America Corp DE now owns 3,465,421 shares of the mining company's stock valued at $193,197,000 after buying an additional 697,316 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of BHP Group during the 3rd quarter worth $27,234,000. Hedge funds and other institutional investors own 3.79% of the company's stock.

BHP Group Stock Performance

Shares of NYSE BHP traded up $1.02 during midday trading on Monday, hitting $69.76. The company had a trading volume of 2,108,648 shares, compared to its average volume of 4,466,015. BHP Group has a twelve month low of $39.73 and a twelve month high of $83.21. The business has a 50-day simple moving average of $71.18 and a two-hundred day simple moving average of $61.55. The company has a quick ratio of 1.28, a current ratio of 1.65 and a debt-to-equity ratio of 0.44.

BHP Group Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 6th will be given a dividend of $1.46 per share. This represents a dividend yield of 399.0%. The ex-dividend date is Friday, March 6th.

Wall Street Analyst Weigh In

A number of brokerages have commented on BHP. Citigroup restated a "neutral" rating on shares of BHP Group in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of BHP Group in a research note on Wednesday, February 18th. Zacks Research raised shares of BHP Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 9th. Sanford C. Bernstein lowered their price objective on BHP Group from $49.50 to $48.00 and set a "market perform" rating on the stock in a report on Monday, March 9th. Finally, Wall Street Zen upgraded BHP Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $53.33.

About BHP Group

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.

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