BHP stock falls after confirming talks to sell oil business

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%.

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Add to watchlist BHP

BHP Group Ltd. ADR

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

/zigman2/quotes/201448516/delayed

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BHP Group Ltd.

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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S&P 500 Index

US : S&P US

4,136.48

-43.28 -1.04%

Volume: 0.00

Feb. 3, 2023 4:54p