Lord Abbett & CO. LLC Decreases Position in BHP Group Limited (NYSE:BHP)

Lord Abbett & CO. LLC trimmed its holdings in BHP Group Limited (NYSE:BHP) by 29.8% in the third quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BHP. Asset Dedication LLC boosted its holdings in shares of BHP Group by 7,516.7% in the 2nd quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock valued at $26,000 after buying an additional 451 shares in the last quarter. Eastern Bank acquired a new position in BHP Group in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of BHP Group during the second quarter worth about $27,000. Sound Income Strategies LLC increased its position in shares of BHP Group by 124.6% during the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock worth $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Addison Advisors LLC lifted its holdings in shares of BHP Group by 1,187.0% in the 2nd quarter. Addison Advisors LLC now owns 592 shares of the mining company’s stock valued at $34,000 after purchasing an additional 546 shares during the last quarter. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

BHP Group Stock Down 1.5 %

NYSE BHP opened at $51.67 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. BHP Group Limited has a 52-week low of $50.90 and a 52-week high of $69.11. The firm has a 50-day moving average price of $54.80 and a 200 day moving average price of $55.68.

Analyst Upgrades and Downgrades

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

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.