BHP Billiton PLC (NYSE:BBL) Rating Increased to Hold at Zacks Investment Research
BHP Billiton PLC (NYSE:BBL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “BHP Billiton Plc is engaged in production of minerals which includes iron ore, metallurgical coal, copper and uranium as well as oil, gas and energy coal. BHP Billiton Plc is based in Collins Street, Melbourne Victoria. “
A number of other analysts have also issued reports on BBL. Citigroup Inc. reiterated a “buy” rating on shares of BHP Billiton PLC in a report on Tuesday, April 11th. UBS AG reiterated a “neutral” rating on shares of BHP Billiton PLC in a report on Thursday, April 27th. Jefferies Group LLC set a $37.00 price target on BHP Billiton PLC and gave the company a “buy” rating in a report on Friday, May 19th. ValuEngine lowered BHP Billiton PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded BHP Billiton PLC from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.50.
Shares of BHP Billiton PLC (NYSE BBL) traded down 1.12% during midday trading on Tuesday, reaching $36.18. The company had a trading volume of 1,842,093 shares. BHP Billiton PLC has a 52 week low of $25.18 and a 52 week high of $37.44. The stock has a 50-day moving average of $32.35 and a 200 day moving average of $32.40. The firm has a market capitalization of $96.27 billion, a price-to-earnings ratio of 38.82 and a beta of 1.05.
Institutional investors have recently added to or reduced their stakes in the stock. Cambiar Investors LLC increased its position in BHP Billiton PLC by 41.7% in the first quarter. Cambiar Investors LLC now owns 4,810,247 shares of the mining company’s stock valued at $149,839,000 after buying an additional 1,415,077 shares during the period. Morgan Stanley increased its position in BHP Billiton PLC by 33.9% in the first quarter. Morgan Stanley now owns 2,496,519 shares of the mining company’s stock valued at $77,767,000 after buying an additional 631,725 shares during the period. Bank of America Corp DE increased its position in BHP Billiton PLC by 53.3% in the first quarter. Bank of America Corp DE now owns 1,603,372 shares of the mining company’s stock valued at $49,944,000 after buying an additional 557,149 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in BHP Billiton PLC during the first quarter valued at $12,427,000. Finally, Marshall Wace North America L.P. bought a new position in BHP Billiton PLC during the first quarter valued at $12,427,000. 4.38% of the stock is currently owned by hedge funds and other institutional investors.
BHP Billiton PLC Company Profile
BHP Billiton Plc is a global resources company. The Company is a producer of various commodities, including iron ore, metallurgical coal, copper and uranium. Its segments include Petroleum, Copper, Iron Ore and Coal. The Petroleum segment is engaged in the exploration, development and production of oil and gas.
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