Edgestream Partners L.P. Trims Position in Baker Hughes Company $BKR

Edgestream Partners L.P. lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 64.6% in the second quarter, Holdings Channel.com reports. The fund owned 104,115 shares of the company’s stock after selling 190,247 shares during the period. Edgestream Partners L.P.’s holdings in Baker Hughes were worth $3,992,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its holdings in Baker Hughes by 2.1% in the 2nd quarter. New York State Common Retirement Fund now owns 915,239 shares of the company’s stock worth $35,090,000 after purchasing an additional 19,252 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Baker Hughes by 0.6% during the second quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after buying an additional 8,994 shares during the period. Mackenzie Financial Corp lifted its holdings in Baker Hughes by 2.4% in the second quarter. Mackenzie Financial Corp now owns 365,958 shares of the company’s stock worth $14,031,000 after buying an additional 8,453 shares during the period. Virtus Investment Advisers LLC lifted its holdings in Baker Hughes by 15.8% in the second quarter. Virtus Investment Advisers LLC now owns 38,016 shares of the company’s stock worth $1,458,000 after buying an additional 5,189 shares during the period. Finally, Norges Bank bought a new stake in Baker Hughes during the 2nd quarter valued at approximately $862,722,000. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at approximately $588,600. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $50.49 on Thursday. The business has a fifty day moving average price of $48.05 and a 200-day moving average price of $43.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The company has a market capitalization of $49.82 billion, a PE ratio of 17.41, a PEG ratio of 1.82 and a beta of 0.90. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. Baker Hughes’s dividend payout ratio is presently 31.72%.

Analyst Ratings Changes

BKR has been the subject of several research reports. Bank of America increased their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Evercore ISI set a $54.00 price objective on Baker Hughes in a research report on Monday, October 27th. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 20th. HSBC increased their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Piper Sandler boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.