Baker Hughes Company $BKR Shares Sold by Graphene Investments SAS

Graphene Investments SAS reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 28.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,000 shares of the company’s stock after selling 21,000 shares during the period. Baker Hughes comprises about 2.1% of Graphene Investments SAS’s holdings, making the stock its 13th largest holding. Graphene Investments SAS’s holdings in Baker Hughes were worth $3,175,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in Baker Hughes by 1.6% during the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after acquiring an additional 937,614 shares in the last quarter. Cardano Risk Management B.V. grew its position in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares in the last quarter. Geode Capital Management LLC grew its position in Baker Hughes by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after acquiring an additional 204,534 shares in the last quarter. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter worth about $1,022,491,000. Finally, Capital International Investors increased its stake in Baker Hughes by 6.4% during the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after purchasing an additional 956,808 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 1.2%

BKR stock opened at $56.54 on Friday. The company’s 50 day moving average price is $61.01 and its 200 day moving average price is $59.56. The firm has a market capitalization of $56.09 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.08 and a beta of 0.96. Baker Hughes Company has a fifty-two week low of $38.47 and a fifty-two week high of $70.41. 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 (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Baker Hughes Company will post 2.27 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s 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 sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% 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. In the last quarter, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on BKR shares. UBS Group raised their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Evercore reaffirmed an “outperform” rating and set a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. Barclays reduced their target price on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. Finally, HSBC boosted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

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.