Stock Traders Purchase High Volume of Put Options on BHP Group (NYSE:BHP)

Key Points

• Unusual options activity: Investors purchased 30,346 put options on BHP Group, roughly 788% above the typical daily volume of 3,417 contracts.
• Analyst sentiment remains cautious: BHP has an average “Hold” rating and a consensus price target of $78, despite Deutsche Bank maintaining a “Buy” rating and other firms upgrading shares to “Hold.”
• Shares trade below recent highs: BHP fell $0.38 to $83.42, compared with a 1-year range of $49.68 to $93.83; institutional investors and hedge funds own 3.79% of the stock.

BHP Group Limited Sponsored ADR (NYSE:BHP - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 30,346 put options on the stock. This is an increase of approximately 788% compared to the typical daily volume of 3,417 put options.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DZ Bank raised shares of BHP Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Bank of America reduced their price objective on shares of BHP Group from $93.00 to $91.00 and set a "neutral" rating for the company in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of BHP Group in a report on Thursday, July 2nd. Berenberg Bank raised shares of BHP Group from a "sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Citigroup restated a "neutral" rating on shares of BHP Group in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $78.00.

Hedge Funds Weigh In On BHP Group

Large investors have recently made changes to their positions in the business. Bayban acquired a new stake in BHP Group in the 4th quarter valued at approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of BHP Group in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of BHP Group in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its stake in shares of BHP Group by 222.1% in the fourth quarter. Sound Income Strategies LLC now owns 422 shares of the mining company's stock worth $27,000 after acquiring an additional 291 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its stake in shares of BHP Group by 8,320.0% in the first quarter. Whipplewood Advisors LLC now owns 421 shares of the mining company's stock worth $31,000 after acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company's stock.

BHP Group Price Performance

NYSE:BHP traded down $0.38 during midday trading on Wednesday, reaching $83.42. The stock had a trading volume of 1,770,020 shares, compared to its average volume of 3,364,865. BHP Group has a 1-year low of $49.68 and a 1-year high of $93.83. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.65. The firm's fifty day simple moving average is $84.87 and its 200-day simple moving average is $78.04.

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.

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