Stock Traders Buy Large Volume of Call Options on BHP Group (NYSE:BHP)

Key Points

• Unusually high options activity: Investors purchased 164,218 BHP Group call options, roughly 3,860% above the average daily volume of 4,147 contracts.
• Shares declined modestly: BHP traded down 0.7% to $92.78, although the stock remained well above its 50-day and 200-day moving averages and near its 52-week high.
• Analyst sentiment remains cautious: BHP has a consensus “Hold” rating and an average price target of $78, below its recent trading price. The company also announced a $1.98 dividend payable September 23 to shareholders of record September 4.

BHP Group Limited Sponsored ADR (NYSE:BHP - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 164,218 call options on the company. This represents an increase of 3,860% compared to the average daily volume of 4,147 call options.

BHP Group Trading Down 0.7%

NYSE:BHP traded down $0.65 during trading hours on Thursday, hitting $92.78. 2,346,077 shares of the stock traded hands, compared to its average volume of 3,262,635. The firm has a 50 day moving average price of $86.76 and a 200 day moving average price of $82.20. BHP Group has a fifty-two week low of $51.83 and a fifty-two week high of $98.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.88 and a quick ratio of 1.48.

BHP Group Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Friday, September 4th will be paid a $1.98 dividend. This represents a yield of 404.0%. The ex-dividend date of this dividend is Friday, September 4th.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America cut their price objective on BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research report on Monday, June 22nd. DZ Bank raised BHP Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Wall Street Zen downgraded BHP Group from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Zacks Research lowered BHP Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised BHP Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, BHP Group has a consensus rating of "Hold" and an average price target of $78.00.

Institutional Investors Weigh In On BHP Group

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of BHP Group by 1.3% during the fourth quarter. Parallel Advisors LLC now owns 12,039 shares of the mining company's stock worth $727,000 after purchasing an additional 150 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of BHP Group by 4.1% during the 2nd quarter. Affinity Capital Advisors LLC now owns 3,822 shares of the mining company's stock valued at $320,000 after buying an additional 152 shares during the period. Williams & Novak LLC grew its holdings in shares of BHP Group by 3.7% during the 2nd quarter. Williams & Novak LLC now owns 4,862 shares of the mining company's stock valued at $405,000 after acquiring an additional 173 shares in the last quarter. Bailard Inc. increased its stake in shares of BHP Group by 1.4% in the fourth quarter. Bailard Inc. now owns 12,395 shares of the mining company's stock worth $748,000 after acquiring an additional 174 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in BHP Group by 31.8% during the fourth quarter. Addison Advisors LLC now owns 751 shares of the mining company's stock valued at $45,000 after purchasing an additional 181 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

BHP Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source