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Why BHP Billiton Limited (ASX:BHP) is among these 3 S&P/ASX 200 shares at 52-week highs

The S&P/ASX 200 is making a gradual climb upwards, but is down slightly to 6,276 points at the time of writing.

These three big-name shares have been on inclines of their own, sitting at 52-week highs.

BHP Billiton Limited (ASX: BHP)

BHP Billiton shares have risen 33% in the last 12 months, from its share price of $26.16 at this time last year to open today at a 52-week high of $34.86.

The S&P/ASX 200 darling is enjoying global oil price surges, underpinned by strong demand.

This week UBS maintained its buy rating on BHP, despite its highs, with a $37 price target and the broker buoyed by FY18 production results.

BHP’s share price surge could be due, in part, to the announcement late last week regarding the sale of its interests in US assets – including Eagle Ford and Haynesville – for US$10.8 billion in cash.

Shareholders live in hope the funds could find their way into their pockets, and according to BHP’s CEO this is a definite possibility.

BHP goes neck and neck with Rio Tinto Limited (ASX: RIO) as the ASX’s most favoured blue-chip commodities share, and if you trust the viewpoint of UBS, there may still be time to buy in.

Flight Centre Travel Group Ltd (ASX: FLT)

Travel agency stalwart Flight Centre Travel Group Ltd has had a stellar year of share price rises – up 50% from this time last year to open today at a 52-week high of $68.01.

But while Flight Centre is doing well off the back of strong growth and was backed by Morgan Stanley earlier this month when the broker lifted its price target from $45 to $68, it might not be a good time to buy in.

If you’re looking to snag a travel industry stock sometime soon the likes of Corporate Travel Management Ltd (ASX: CTD) is probably a better bet at this time, with its acquisition of Hong Kong’s Lotus Travel Group signalling good growth in the pipeline.

Likewise, Webjet Limited (ASX: WEB) is asserting itself in the sector, with its recent acquisition of JacTravel also expected to reap success.

Many Flight Centre investors might consider now could be a good time to sell off some of their holdings before earnings season kicks off – and I’d be inclined to agree.

Speedcast International Ltd (ASX: SDA)

Satellite-based communication provider Speedcast International Ltd is a mid cap stock to watch on the ASX right now.

Speedcast’s late 2017 acquisition of Harris CapRock positioned the company as the largest remote communications provider in the world, and things have only been on the up since then.

With a share price rise of 78% in the last 12 months, Speedcast shares opened today at $6.20.

Speedcast has big plans in the pipeline, but with a PE ratio in excess of 200 it begs the question – should investors make hay while the sun shines and lock in some profit soon?

One thing is for certain, Speedcast’s interim report due out on August 28 will be highly anticipated by investors.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Flight Centre Travel Group Limited. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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