BHP Billiton Limited (NYSE:BHP) Raised to "Strong-Buy" at BidaskClub
20 July 2017, 12:30 | Andres Norman
BHP likely the most notable name in Wednesday's schedule
Finally, First Financial Corp IN increased its position in BHP Billiton Limited by 3.7% in the second quarter. BB&T Corp now owns 75,664 shares of the mining company's stock worth $2,357,000 after buying an additional 32,915 shares during the period.
In April, BHP dismissed a push by managers at hedge fund Elliot Associates and Elliot International, which hold minor shares in the company, to split off its USA oil division in order to unlock tens of billions of us dollars in shareholder value. Renaissance Technologies LLC acquired a new stake in BHP Billiton PLC during the fourth quarter worth $720,000. CENTRAL TRUST Co now owns 5,668 shares of the mining company's stock worth $201,000 after buying an additional 85 shares during the period. Proficio Capital Partners LLC grew its ownership by buying 1,727 shares an increase of 122.8% in the quarter. The stock has a market cap of $105.54 billion, a P/E ratio of 42.55 and a beta of 1.09. The stock has a 50-day moving average of $35.28 and a 200-day moving average of $37.09. Goldman Sachs downgraded it to "Neutral" rating and $50 target in Friday, September 16 report. Benzinga.com's article titled: "Bernstein Upgrades BHP Billiton On High 'Intrinsic Value, ' Change In Leadership" and published on July 05, 2017 is yet another important article. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and worldwide copyright laws. The legal version of this news story can be read at https://www.baseball-news-blog.com/2017/07/19/somewhat-positive-media-coverage-likely-to-impact-bhp-billiton-plc-bbl-stock-price-updated.html.
BHP shares lost ground on the news, dropping 27 cents, or 1.1 per cent, to $24.83, with analysts ascribing this to the weaker outlook. Morgan Stanley set a GBX 1,510 ($19.72) price objective on BHP Billiton plc and gave the company a "buy" rating in a research note on Wednesday, April 12th. Finally, BidaskClub downgraded BHP Billiton Limited from a "hold" rating to a "sell" rating in a report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. $33.67's average target is -14.61% below currents $39.43 stock price.
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BHP Billiton Ltd yesterday said it would double the number of onshore USA shale rigs, despite a major shareholder pushing for the commodities giant to divest its United States oil and gas assets.
BHP Billiton is the fourth-largest iron ore producer in the world and expects more output next year.
"Whilst the company expects a turnaround in its key copper unit, driven by Escondida, the weaker outlook for the USA onshore division in FY18 will likely be a focus of investor pushback", Royal Bank of Canada analyst Paul Hissey said. The Petroleum segment is involved in the exploration, development and production of oil and gas. Valuations are not stretched with BHP on 6.1x CY18e EBITDA (long term average 7.3x), but with our view that commodity prices are under pressure we see limited absolute upside in the shares from here.
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