Summit Global Investments Takes Position in BHP Group Limited (NYSE:BHP)

Summit Global Investments purchased a new position in shares of BHP Group Limited (NYSE:BHP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 86,347 shares of the mining company's stock, valued at approximately $4,216,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHP. Sierra Ocean LLC acquired a new position in BHP Group in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in shares of BHP Group in the fourth quarter worth $40,000. Union Bancaire Privee UBP SA acquired a new stake in BHP Group in the fourth quarter valued at $46,000. Newbridge Financial Services Group Inc. acquired a new stake in BHP Group in the fourth quarter valued at $54,000. Finally, Rothschild Investment LLC raised its position in BHP Group by 119.4% during the 4th quarter. Rothschild Investment LLC now owns 1,301 shares of the mining company's stock worth $64,000 after purchasing an additional 708 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BHP shares. Jefferies Financial Group decreased their price target on BHP Group from $57.00 to $53.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Clarkson Capital upgraded BHP Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, StockNews.com lowered shares of BHP Group from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 19th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $53.00.

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BHP Group Trading Up 0.4 %

Shares of BHP Group stock traded up $0.19 on Wednesday, hitting $49.84. 2,667,426 shares of the company's stock traded hands, compared to its average volume of 2,412,066. The company has a fifty day moving average of $50.03 and a two-hundred day moving average of $52.51. BHP Group Limited has a one year low of $48.06 and a one year high of $63.21. The company has a market capitalization of $126.37 billion, a price-to-earnings ratio of 11.33 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25.

BHP Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be issued 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 payout ratio is 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.