Baker Hughes Company $BKR Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in Baker Hughes Company (NASDAQ:BKR) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,892,101 shares of the company’s stock after acquiring an additional 37,473 shares during the period. Hsbc Holdings PLC’s holdings in Baker Hughes were worth $86,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. Pinion Investment Advisors LLC acquired a new position in shares of Baker Hughes in the fourth quarter worth about $778,000. Nordea Investment Management AB raised its holdings in shares of Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after acquiring an additional 309,996 shares during the period. Legal & General Group Plc lifted its position in shares of Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after acquiring an additional 367,728 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $830,000. Finally, Ninety One UK Ltd boosted its stake in Baker Hughes by 28.6% in the 4th 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 period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. TD Cowen lifted their price target on Baker Hughes from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets upped their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Citigroup reduced their price objective 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, Royal Bank Of Canada raised their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.57.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $52.78 on Friday. The firm has a fifty day moving average of $62.94 and a two-hundred day moving average of $58.75. The firm has a market capitalization of $52.36 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Baker Hughes Company has a 12-month low of $38.37 and a 12-month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the business posted $0.51 earnings per share. Baker Hughes’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Baker Hughes Company will post 2.29 EPS 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Baker Hughes 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.