Avalon Advisors LLC Reduces Position in BHP Group PLC (BBL)
Avalon Advisors LLC lowered its holdings in shares of BHP Group PLC (NYSE:BBL) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,596 shares of the mining company’s stock after selling 13,624 shares during the period. Avalon Advisors LLC’s holdings in BHP Group were worth $17,870,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BBL. Oregon Public Employees Retirement Fund bought a new stake in BHP Group during the fourth quarter worth about $755,000. Cambiar Investors LLC boosted its stake in BHP Group by 30.2% during the fourth quarter. Cambiar Investors LLC now owns 4,541,593 shares of the mining company’s stock worth $190,247,000 after acquiring an additional 1,053,148 shares in the last quarter. LMR Partners LLP bought a new stake in BHP Group during the fourth quarter worth about $28,081,000. JPMorgan Chase & Co. boosted its stake in BHP Group by 693.4% during the third quarter. JPMorgan Chase & Co. now owns 680,358 shares of the mining company’s stock worth $29,922,000 after acquiring an additional 594,605 shares in the last quarter. Finally, Polaris Capital Management LLC boosted its stake in BHP Group by 8.2% during the third quarter. Polaris Capital Management LLC now owns 4,648,534 shares of the mining company’s stock worth $204,443,000 after acquiring an additional 353,046 shares in the last quarter. 4.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of BHP Group stock opened at $45.90 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.55 and a quick ratio of 2.16. The stock has a market capitalization of $48.35 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.36 and a beta of 0.83. BHP Group PLC has a 52-week low of $38.04 and a 52-week high of $48.22.
Several equities research analysts recently commented on BBL shares. Zacks Investment Research raised shares of BHP Group from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, November 22nd. ValuEngine raised shares of BHP Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Societe Generale reissued a “hold” rating on shares of BHP Group in a research note on Thursday, March 7th. Finally, Goldman Sachs Group lowered shares of BHP Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.00.
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About BHP Group
BHP Group discovers, acquires, develops, and markets natural resources worldwide. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical and energy coal.
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