BHP Group Limited (NYSE:BHP) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in BHP Group Limited (NYSE:BHP) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 675,695 shares of the mining company’s stock after selling 286,332 shares during the quarter. Lord Abbett & CO. LLC’s holdings in BHP Group were worth $41,967,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BHP. FMR LLC lifted its holdings in shares of BHP Group by 10.0% in the 3rd quarter. FMR LLC now owns 1,434,417 shares of the mining company’s stock worth $89,092,000 after acquiring an additional 129,908 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BHP Group by 17.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 153,170 shares of the mining company’s stock worth $9,513,000 after buying an additional 22,677 shares during the period. XY Capital Ltd boosted its position in shares of BHP Group by 503.6% during the third quarter. XY Capital Ltd now owns 921,666 shares of the mining company’s stock worth $57,245,000 after buying an additional 768,972 shares during the period. Ausbil Investment Management Ltd purchased a new stake in shares of BHP Group in the 3rd quarter valued at $2,360,000. Finally, Chartwell Investment Partners LLC acquired a new position in BHP Group during the 3rd quarter worth about $9,830,000. Hedge funds and other institutional investors own 3.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BHP shares. Jefferies Financial Group downgraded BHP Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $72.00 to $68.00 in a research report on Friday, October 4th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Argus upgraded shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com upgraded shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, BHP Group currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

BHP Group Stock Down 1.5 %

BHP stock opened at $51.67 on Friday. The company’s 50 day moving average price is $54.80 and its 200 day moving average price is $55.68. BHP Group Limited has a fifty-two week low of $50.90 and a fifty-two week high of $69.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70.

About BHP Group

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.