P Schoenfeld Asset Management LP Takes $16.90 Million Position in BHP Group PLC (BBL)

P Schoenfeld Asset Management LP purchased a new position in BHP Group PLC (NYSE:BBL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 403,500 shares of the mining company’s stock, valued at approximately $16,903,000. BHP Group makes up about 1.8% of P Schoenfeld Asset Management LP’s holdings, making the stock its 14th biggest position.

Several other institutional investors have also recently made changes to their positions in BBL. Oregon Public Employees Retirement Fund purchased a new stake in BHP Group in the fourth quarter valued at approximately $755,000. Cambiar Investors LLC raised its stake in BHP Group by 30.2% in the fourth quarter. Cambiar Investors LLC now owns 4,541,593 shares of the mining company’s stock valued at $190,247,000 after purchasing an additional 1,053,148 shares in the last quarter. LMR Partners LLP purchased a new stake in BHP Group in the fourth quarter valued at approximately $28,081,000. JPMorgan Chase & Co. raised its stake in BHP Group by 693.4% in the third quarter. JPMorgan Chase & Co. now owns 680,358 shares of the mining company’s stock valued at $29,922,000 after purchasing an additional 594,605 shares in the last quarter. Finally, Polaris Capital Management LLC grew its position 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 valued at $204,443,000 after acquiring an additional 353,046 shares during the last quarter. 4.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BBL opened at $45.67 on Friday. BHP Group PLC has a one year low of $38.04 and a one year high of $48.22. The company has a current ratio of 2.55, a quick ratio of 2.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83.

The firm also recently declared a special dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th will be given a dividend of $1.10 per share. This represents a yield of 5.29%. The ex-dividend date is Thursday, March 7th. BHP Group’s payout ratio is currently 65.48%.

A number of research analysts have commented on BBL shares. Goldman Sachs Group cut shares of BHP Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 12th. ValuEngine upgraded shares of BHP Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Societe Generale reiterated a “hold” rating on shares of BHP Group in a research report on Thursday, March 7th. Finally, Zacks Investment Research cut shares of BHP Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for BHP Group (NYSE:BBL)

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