Zacks Investment Research Lowers BHP Billiton (NYSE:BBL) to Hold

BHP Billiton (NYSE:BBL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 17th.

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. “

Separately, Jefferies Group set a $38.00 target price on BHP Billiton and gave the stock a “hold” rating in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. BHP Billiton has an average rating of “Buy” and a consensus price target of $45.00.

BHP Billiton (NYSE:BBL) traded up $0.77 on Wednesday, reaching $41.28. 5,480,604 shares of the company traded hands, compared to its average volume of 1,898,451. BHP Billiton has a 1-year low of $28.73 and a 1-year high of $45.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.53.

Several institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of BHP Billiton by 2.9% during the 2nd quarter. HighTower Advisors LLC now owns 9,758 shares of the mining company’s stock worth $300,000 after buying an additional 275 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of BHP Billiton by 2.2% during the 2nd quarter. Stifel Financial Corp now owns 22,404 shares of the mining company’s stock worth $685,000 after buying an additional 477 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of BHP Billiton by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 16,779 shares of the mining company’s stock worth $514,000 after buying an additional 624 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BHP Billiton by 14.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,719 shares of the mining company’s stock worth $237,000 after purchasing an additional 947 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of BHP Billiton by 5.9% in the 4th quarter. First Trust Advisors LP now owns 23,445 shares of the mining company’s stock worth $945,000 after purchasing an additional 1,299 shares in the last quarter. 4.41% of the stock is owned by institutional investors.

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About BHP Billiton

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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