Short Interest in BHP Billiton PLC (BBL) Drops By 38.5%

BHP Billiton PLC (NYSE:BBL) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,228,188 shares, a decline of 38.5% from the October 31st total of 1,996,331 shares. Based on an average trading volume of 1,224,602 shares, the days-to-cover ratio is currently 1.0 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in BHP Billiton in the third quarter valued at about $8,956,000. Griffin Asset Management Inc. bought a new stake in BHP Billiton in the third quarter valued at about $383,000. Group One Trading L.P. boosted its position in BHP Billiton by 668.8% in the third quarter. Group One Trading L.P. now owns 3,075 shares of the mining company’s stock valued at $109,000 after buying an additional 2,675 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in BHP Billiton in the third quarter valued at about $382,000. Finally, Boothbay Fund Management LLC boosted its position in BHP Billiton by 314.5% in the third quarter. Boothbay Fund Management LLC now owns 33,159 shares of the mining company’s stock valued at $1,175,000 after buying an additional 25,159 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on BBL shares. Jefferies Group set a $38.00 target price on shares of BHP Billiton and gave the company a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research raised shares of BHP Billiton from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Thursday, October 12th. BidaskClub raised shares of BHP Billiton from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, ValuEngine cut shares of BHP Billiton from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $40.00.

Shares of BHP Billiton (NYSE BBL) opened at $36.02 on Wednesday. BHP Billiton has a 52 week low of $28.73 and a 52 week high of $39.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.53.

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BHP Billiton 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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