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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 -0.35% /zigman2/quotes/201448516/delayed AU:BHP +0.47% 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. /zigman2/quotes/206334215/composite WOPEY -1.67% /zigman2/quotes/203437212/delayed AU:WPL -1.76% , 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 +0.40% has advanced 18.4%.

/zigman2/quotes/208108397/composite
US : U.S.: NYSE
$ 57.88
-0.20 -0.35%
Volume: 2.29M
Oct. 20, 2021 3:11p
P/E Ratio
13.26
Dividend Yield
10.40%
Market Cap
$143.20 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 38.57
+0.18 +0.47%
Volume: 7.62M
Oct. 20, 2021 4:10p
P/E Ratio
13.04
Dividend Yield
10.44%
Market Cap
$191.51 billion
Rev. per Employee
N/A
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/zigman2/quotes/206334215/composite
US : U.S.: OTC
$ 18.50
-0.32 -1.67%
Volume: 16,436
Oct. 20, 2021 2:49p
P/E Ratio
49.74
Dividend Yield
2.05%
Market Cap
$18.06 billion
Rev. per Employee
$980,926
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/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 24.52
-0.44 -1.76%
Volume: 5.48M
Oct. 20, 2021 4:10p
P/E Ratio
50.24
Dividend Yield
2.30%
Market Cap
$24.15 billion
Rev. per Employee
$1.42M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,537.50
+17.87 +0.40%
Volume: 1.29B
Oct. 20, 2021 3:11p
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