Baker Hughes Company $BKR Shares Sold by Cardano Risk Management B.V.

Cardano Risk Management B.V. cut its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,465,829 shares of the company’s stock after selling 483,979 shares during the period. Baker Hughes makes up 2.3% of Cardano Risk Management B.V.’s portfolio, making the stock its 12th largest holding. Cardano Risk Management B.V.’s holdings in Baker Hughes were worth $217,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management raised its position in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the second quarter worth about $36,000. Harbour Investments Inc. raised its holdings in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Baker Hughes in the second quarter valued at about $36,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Evercore ISI reiterated an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a research report on Wednesday, February 11th. Evercore set a $54.00 target price on Baker Hughes in a report on Monday, October 27th. BMO Capital Markets upped their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Finally, UBS Group raised their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.78.

Insider Activity at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Trading Down 0.3%

NASDAQ:BKR opened at $61.20 on Tuesday. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $62.27. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $51.44 and a 200-day simple moving average of $48.44. The company has a market capitalization of $60.48 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. On average, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.

About Baker Hughes

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.