Cardano Risk Management B.V. Decreases Stock Position in Baker Hughes Company $BKR

Cardano Risk Management B.V. cut its position in Baker Hughes Company (NASDAQ:BKR) by 92.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,752,052 shares of the company’s stock after selling 45,601,258 shares during the quarter. Baker Hughes comprises about 2.2% of Cardano Risk Management B.V.’s holdings, making the stock its 12th largest position. Cardano Risk Management B.V.’s holdings in Baker Hughes were worth $229,062,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pinion Investment Advisors LLC purchased a new stake in Baker Hughes in the 4th quarter worth about $778,000. Nordea Investment Management AB lifted its holdings in Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares during the last quarter. Legal & General Group Plc lifted its holdings in Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after purchasing an additional 367,728 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after purchasing an additional 638,640 shares during the period. Finally, USA Financial Formulas bought a new position in Baker Hughes during the fourth quarter worth about $830,000. 92.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Barclays reaffirmed an “equal weight” rating and issued a $74.00 price objective (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes Price Performance

BKR stock opened at $56.39 on Thursday. The firm has a 50 day moving average of $63.72 and a 200-day moving average of $58.47. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12 month low of $37.46 and a 12 month high of $70.41. The firm has a market capitalization of $55.94 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share. As a group, sell-side analysts predict that Baker Hughes Company will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

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.