BHP Billiton Limited – Strong Buy Rating

BHP Billiton Limited – Strong Buy Rating

BidaskClub upgraded shares of BHP Billiton Limited (NYSE:BHP) from a buy rating to a strong-buy rating in a research note published on Saturday.

A number of other equities analysts have also recently issued reports on BHP. Zacks Investment Research upgraded shares of BHP Billiton Limited from a strong sell rating to a hold rating in a research note on Tuesday, August 8th. Cowen and Company set a $43.00 price target on shares of BHP Billiton Limited and gave the stock a hold rating in a research note on Thursday, August 24th. Citigroup Inc. cut shares of BHP Billiton Limited from a buy rating to a neutral rating and dropped their price target for the stock from $41.79 to $28.02 in a research note on Wednesday, July 19th. HSBC Holdings plc cut shares of BHP Billiton Limited from a buy rating to a hold rating in a research note on Friday, July 14th. Finally, Deutsche Bank AG upgraded shares of BHP Billiton Limited from a hold rating to a buy rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $34.67.

Shares of BHP Billiton Limited (NYSE BHP) opened at 43.00 on Friday. BHP Billiton Limited has a 52-week low of $29.30 and a 52-week high of $43.60. The company has a market capitalization of $114.47 billion, a PE ratio of 19.47 and a beta of 1.12. The company has a 50-day moving average of $40.31 and a 200 day moving average of $37.50.

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.86 per share. The ex-dividend date is Thursday, September 7th. This represents a yield of 4.04%. This is a boost from BHP Billiton Limited’s previous Semi-Annual dividend of $0.32.

Institutional investors have recently bought and sold shares of the stock. Huntington National Bank boosted its position in BHP Billiton Limited by 25.3% in the second quarter. Huntington National Bank now owns 2,837 shares of the mining company’s stock valued at $101,000 after buying an additional 572 shares in the last quarter. Proficio Capital Partners LLC boosted its position in BHP Billiton Limited by 122.8% in the first quarter. Proficio Capital Partners LLC now owns 3,133 shares of the mining company’s stock valued at $114,000 after buying an additional 1,727 shares in the last quarter. Fifth Third Bancorp boosted its position in BHP Billiton Limited by 14.6% in the first quarter. Fifth Third Bancorp now owns 3,345 shares of the mining company’s stock valued at $121,000 after buying an additional 426 shares in the last quarter. V Wealth Management LLC bought a new position in BHP Billiton Limited during the second quarter valued at about $133,000. Finally, Bollard Group LLC boosted its position in BHP Billiton Limited by 18.3% in the second quarter. Bollard Group LLC now owns 4,133 shares of the mining company’s stock valued at $147,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 2.98% of the company’s stock.

About BHP Billiton Limited

BHP Billiton Limited 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.

Technical Analysis

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 25.14.

The projected upper bound is: 27.89.

The projected lower bound is: 26.20.

The projected closing price is: 27.05.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 20 black candles for a net of 9 white candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 11 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 90.0322. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 10 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 68.67. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 20 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 127.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.

Rex Takasugi – TD Profile

BHP BLT FPO closed up 0.080 at 26.950. Volume was 18% below average (neutral) and Bollinger Bands were 15% narrower than normal.

Open     High      Low        Close      Volume
27.000  27.140   26.880   26.950   7,026,252

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period    50-period    200-period
Close:                       26.30           25.05            24.93
Volatility:                20                 22                  30
Volume:                   9,046,792   8,034,025   8,583,880

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BHP BLT FPO gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
BHP BLT FPO is currently 8.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into BHP.AX (mildly bullish). Our trend forecasting oscillators are currently bullish on BHP.AX and have had this outlook for the last 2 periods.

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Ivy Heffernan

Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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