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Aug. 16, 2021, 11:19 a.m. EDT

BHP stock falls after confirming talks to sell oil business

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By Tomi Kilgore

Shares of BHP Group Ltd. /zigman2/quotes/208108397/composite BHP -0.70% /zigman2/quotes/201448516/delayed AU:BHP +0.61% took a 3.1% hit in morning trading Monday, after the Australia-based mining giant said it has initiated a review of its petroleum business, which could include a sale. The company confirmed, in "response to press speculation," that was in talks to sell the business to Woodside Petroleum Ltd. , followed by a distribution of Woodside shares to BHP shareholders. Woodside's U.S.-listed shares sank 5.2% in Monday morning trading. "While discussions between the parties are currently progressing, no agreement has been reached on any such transaction," BHP said in a statement. "A further announcement will be made as and when appropriate." BHP's stock has gained 15.4% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.04% has advanced 18.4%.

/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 67.08
-0.47 -0.70%
Volume: 3.36M
Feb. 3, 2023 4:00p
P/E Ratio
7.44
Dividend Yield
9.67%
Market Cap
$169.27 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 48.20
+0.29 +0.61%
Volume: 6.17M
Feb. 6, 2023 4:10p
P/E Ratio
7.78
Dividend Yield
9.61%
Market Cap
$242.66 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,136.48
-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p
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