Groupama Asset Managment increased its position in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) by 32.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,921,008 shares of the company’s stock after acquiring an additional 474,583 shares during the period. Baker Hughes accounts for 1.3% of Groupama Asset Managment’s holdings, making the stock its 20th biggest position. Groupama Asset Managment’s holdings in Baker Hughes were worth $87,483,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its position in shares of Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares in the last quarter. Krilogy Financial LLC grew its stake in Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after acquiring an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC grew its stake in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after acquiring an additional 203 shares during the last quarter. Formidable Asset Management LLC increased its holdings in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after acquiring an additional 225 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock valued at $74,000 after acquiring an additional 228 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.
Baker Hughes Stock Down 2.8%
Shares of BKR opened at $58.41 on Friday. The firm has a market cap of $57.95 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.14 and a beta of 0.93. The company’s fifty day moving average is $64.11 and its two-hundred day moving average is $58.25. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.
Baker Hughes Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.
Insider Activity
In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the transaction, the chief executive officer directly owned 784,944 shares in the company, valued at $49,734,051.84. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Citigroup dropped their price objective on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Stifel Nicolaus increased their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.14.
Check Out Our Latest Stock Analysis on BKR
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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