Natixis Advisors LLC decreased its position in Baker Hughes Company (NASDAQ:BKR – Free Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 840,991 shares of the company’s stock after selling 9,246 shares during the quarter. Natixis Advisors LLC owned 0.09% of Baker Hughes worth $38,299,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Pinion Investment Advisors LLC bought a new position in shares of Baker Hughes during the fourth quarter worth about $778,000. Nordea Investment Management AB increased its holdings in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc increased its holdings in Baker Hughes by 5.4% in the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after buying an additional 367,728 shares during the last quarter. Cibc World Market Inc. raised its stake in Baker Hughes by 13.6% during the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after buying an additional 99,314 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Baker Hughes by 10,225.3% during the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock valued at $41,391,000 after buying an additional 841,338 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Wall Street Analysts Forecast Growth
BKR has been the subject of several research reports. Stifel Nicolaus lifted their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Evercore reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. HSBC boosted their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.14.
Baker Hughes Stock Down 0.4%
Baker Hughes stock opened at $64.27 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. Baker Hughes Company has a one year low of $36.99 and a one year high of $70.41. The company has a 50-day simple moving average of $63.86 and a 200-day simple moving average of $57.18. The firm has a market capitalization of $63.76 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.30 and a beta of 0.93.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.
Baker Hughes Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.
Insider Transactions at Baker Hughes
In other news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 282,745 shares of company stock worth $16,651,472. Company insiders own 0.19% of the company’s stock.
Baker Hughes Company Profile
Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.
The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.
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