Cardano Risk Management B.V. Sells 45,601,258 Shares of Baker Hughes Company $BKR

Cardano Risk Management B.V. lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 92.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,752,052 shares of the company’s stock after selling 45,601,258 shares during the quarter. Baker Hughes comprises approximately 2.2% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 12th largest holding. Cardano Risk Management B.V. owned about 0.38% of Baker Hughes worth $229,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators grew its holdings in shares of Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares during the last quarter. Krilogy Financial LLC raised its holdings in shares of Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after acquiring an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC raised its holdings in shares of Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after acquiring an additional 203 shares during the last quarter. Evolve Private Wealth LLC lifted its position in Baker Hughes by 2.4% in the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock valued at $529,000 after acquiring an additional 203 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its stake in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $56.39 on Thursday. The firm has a market cap of $55.94 billion, a PE ratio of 18.01, a P/E/G ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average of $63.72 and a 200-day moving average of $58.47. Baker Hughes Company has a 12-month low of $37.46 and a 12-month high of $70.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. As a group, sell-side analysts expect that Baker Hughes Company will post 2.28 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated 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 owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. The trade was a 20.50% 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. Over the last ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. UBS Group raised their target price on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Johnson Rice assumed coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, Barclays reissued an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $69.14.

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.