Oddo BHF Asset Management Sas Makes New Investment in Baker Hughes Company $BKR

Oddo BHF Asset Management Sas purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,716 shares of the company’s stock, valued at approximately $1,143,000.

Several other institutional investors have also modified their holdings of the business. Pinion Investment Advisors LLC purchased a new stake in shares of Baker Hughes during the 4th quarter worth approximately $778,000. OP Asset Management Ltd purchased a new position in shares of Baker Hughes in the first quarter valued at $6,049,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Baker Hughes by 17.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 484,310 shares of the company’s stock valued at $22,055,000 after purchasing an additional 72,714 shares in the last quarter. Ninety One UK Ltd increased its position in Baker Hughes by 28.6% in the fourth quarter. Ninety One UK Ltd now owns 469,329 shares of the company’s stock worth $21,373,000 after purchasing an additional 104,428 shares during the last quarter. Finally, National Pension Service increased its position in Baker Hughes by 5.1% in the fourth quarter. National Pension Service now owns 1,317,478 shares of the company’s stock worth $59,998,000 after purchasing an additional 64,323 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on BKR. Jefferies Financial Group reiterated a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. Argus upped their target price on shares of Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Susquehanna increased their price target on shares of Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a report on Tuesday. Piper Sandler lifted their price target on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $69.95.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction that occurred 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 directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock valued at $22,420,797 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Baker Hughes Trading Up 2.0%

BKR stock opened at $59.90 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a twelve month low of $41.96 and a twelve month high of $70.41. The stock has a market capitalization of $59.42 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.96. The firm’s fifty day simple moving average is $59.47 and its two-hundred day simple moving average is $60.25.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that Baker Hughes Company will post 2.4 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.68%.

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.