Stock Traders Purchase High Volume of Put Options on BHP Group (NYSE:BHP)

BHP Group Limited Sponsored ADR (NYSE:BHP) saw unusually large options trading activity on Wednesday. Traders purchased 30,346 put options on the stock. This represents an increase of 788% compared to the average volume of 3,417 put options.

Institutional Investors Weigh In On BHP Group

Institutional investors have recently added to or reduced their stakes in the stock. Nolet Wealth Management LLC bought a new position in shares of BHP Group during the 2nd quarter worth approximately $244,000. Fulton Bank N.A. bought a new stake in BHP Group in the second quarter valued at $212,000. Sapient Capital LLC raised its stake in BHP Group by 8.7% during the second quarter. Sapient Capital LLC now owns 3,582 shares of the mining company’s stock worth $298,000 after acquiring an additional 287 shares in the last quarter. Affinity Capital Advisors LLC raised its stake in BHP Group by 4.1% during the second quarter. Affinity Capital Advisors LLC now owns 3,822 shares of the mining company’s stock worth $320,000 after acquiring an additional 152 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of BHP Group by 23.0% during the second quarter. Valeo Financial Advisors LLC now owns 8,282 shares of the mining company’s stock valued at $690,000 after acquiring an additional 1,549 shares during the period. 3.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BHP Group in a research report on Friday, July 17th. Berenberg Bank raised BHP Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Bank of America lowered their price target on BHP Group from $93.00 to $91.00 and set a “neutral” rating on the stock in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of BHP Group in a research report on Thursday, July 2nd. Finally, Argus set a $95.00 price objective on BHP Group in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.00.

BHP Group Stock Down 0.4%

Shares of BHP Group stock traded down $0.38 during trading on Wednesday, hitting $83.42. 1,770,020 shares of the company’s stock traded hands, compared to its average volume of 3,364,865. The firm’s fifty day moving average price is $84.87 and its 200 day moving average price is $78.04. BHP Group has a twelve month low of $49.68 and a twelve month high of $93.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.65 and a quick ratio of 1.28.

BHP Group Company Profile

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.