Moran Wealth Management LLC Has $10.40 Million Stock Holdings in BHP Group Limited (NYSE:BHP)

Moran Wealth Management LLC reduced its holdings in BHP Group Limited (NYSE:BHP - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,007 shares of the mining company's stock after selling 245,584 shares during the quarter. Moran Wealth Management LLC's holdings in BHP Group were worth $10,401,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Confluence Investment Management LLC raised its stake in shares of BHP Group by 11.4% during the third quarter. Confluence Investment Management LLC now owns 8,657 shares of the mining company's stock valued at $538,000 after purchasing an additional 885 shares in the last quarter. Sigma Planning Corp acquired a new position in BHP Group during the 3rd quarter valued at about $235,000. Crossmark Global Holdings Inc. raised its position in shares of BHP Group by 65.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 154,274 shares of the mining company's stock worth $9,582,000 after buying an additional 60,857 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of BHP Group during the 3rd quarter worth about $9,830,000. Finally, Jeppson Wealth Management LLC lifted its stake in shares of BHP Group by 10.6% in the 3rd quarter. Jeppson Wealth Management LLC now owns 35,871 shares of the mining company's stock worth $2,228,000 after acquiring an additional 3,430 shares during the period. Institutional investors own 3.79% of the company's stock.

Analysts Set New Price Targets

BHP has been the topic of several recent analyst reports. StockNews.com cut BHP Group from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th. Clarkson Capital upgraded BHP Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group cut their price objective on BHP Group from $57.00 to $53.00 and set a "hold" rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $53.00.

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BHP Group Price Performance

BHP stock traded up $0.32 on Thursday, hitting $48.68. 3,154,511 shares of the company's stock traded hands, compared to its average volume of 2,419,623. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40. The stock has a market cap of $123.43 billion, a price-to-earnings ratio of 11.06 and a beta of 0.90. BHP Group Limited has a 1-year low of $48.06 and a 1-year high of $63.21. The stock has a fifty day moving average of $49.89 and a 200-day moving average of $52.79.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 7th will be paid a dividend of $1.00 per share. This represents a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 7th. BHP Group's dividend payout ratio is presently 44.77%.

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.