BHP Billiton PLC (NYSE:BBL) Sees Large Growth in Short Interest

BHP Billiton PLC (NYSE:BBL) was the recipient of a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 1,705,116 shares, a growth of 47.5% from the September 15th total of 1,155,773 shares. Based on an average daily trading volume, of 1,344,816 shares, the short-interest ratio is presently 1.3 days.

BHP Billiton PLC (NYSE:BBL) opened at 35.97 on Friday. BHP Billiton PLC has a 52 week low of $28.73 and a 52 week high of $39.12. The firm has a market cap of $95.75 billion, a price-to-earnings ratio of 16.29 and a beta of 1.01. The company has a 50-day moving average of $36.48 and a 200-day moving average of $33.72.

A number of institutional investors and hedge funds have recently bought and sold shares of BBL. Bank of New York Mellon Corp lifted its stake in BHP Billiton PLC by 45.4% during the 1st quarter. Bank of New York Mellon Corp now owns 53,019 shares of the mining company’s stock valued at $1,651,000 after acquiring an additional 16,554 shares during the period. Karp Capital Management Corp bought a new position in BHP Billiton PLC during the 1st quarter valued at about $503,000. JPMorgan Chase & Co. lifted its stake in BHP Billiton PLC by 68,636.4% during the 1st quarter. JPMorgan Chase & Co. now owns 151,220 shares of the mining company’s stock valued at $4,711,000 after acquiring an additional 151,000 shares during the period. United Services Automobile Association lifted its stake in BHP Billiton PLC by 36.5% during the 1st quarter. United Services Automobile Association now owns 23,272 shares of the mining company’s stock valued at $725,000 after acquiring an additional 6,227 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in BHP Billiton PLC by 27.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,866 shares of the mining company’s stock valued at $245,000 after acquiring an additional 1,678 shares during the period. Institutional investors and hedge funds own 4.09% of the company’s stock.

Several brokerages have issued reports on BBL. Zacks Investment Research upgraded shares of BHP Billiton PLC from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Thursday, October 12th. Jefferies Group LLC set a $38.00 price objective on shares of BHP Billiton PLC and gave the stock a “hold” rating in a research note on Thursday, October 5th. BidaskClub upgraded shares of BHP Billiton PLC from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, ValuEngine lowered shares of BHP Billiton PLC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.00.

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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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