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

Cardano Risk Management B.V. increased its stake in Baker Hughes Company (NASDAQ:BKR) by 1,005.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,353,310 shares of the company’s stock after purchasing an additional 44,887,481 shares during the quarter. Baker Hughes comprises about 2.3% of Cardano Risk Management B.V.’s portfolio, making the stock its 13th biggest holding. Cardano Risk Management B.V. owned 5.00% of Baker Hughes worth $2,247,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. raised its position in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC increased its holdings in shares of Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the period. Manchester Capital Management LLC increased its holdings in shares of Baker Hughes by 35.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,370 shares of the company’s stock valued at $62,000 after purchasing an additional 362 shares during the period. Finally, Hilltop National Bank increased its holdings in shares of Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several recent research reports. Capital One Financial boosted their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. TD Cowen increased their price objective on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Citigroup cut their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. upped their target price on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’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 transaction of $326,751.36. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Trading Down 0.5%

NASDAQ:BKR opened at $63.14 on Friday. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The stock has a market capitalization of $62.64 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. The business’s 50-day simple moving average is $64.12 and its 200-day simple moving average is $57.88.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the business posted $0.51 EPS. Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s payout ratio is presently 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.