Assenagon Asset Management S.A. Has $5.62 Million Stock Position in Baker Hughes Company $BKR

Assenagon Asset Management S.A. reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,105 shares of the company’s stock after selling 12,299 shares during the period. Assenagon Asset Management S.A.’s holdings in Baker Hughes were worth $5,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BKR. Cardano Risk Management B.V. grew its position in Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the period. Norges Bank acquired a new stake in shares of Baker Hughes in the 4th quarter valued at $1,022,491,000. Capital International Investors bought a new stake in shares of Baker Hughes in the 3rd quarter worth about $729,670,000. Price T Rowe Associates Inc. MD increased its position in shares of Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock worth $529,896,000 after purchasing an additional 4,278,573 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after purchasing an additional 3,464,637 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. HSBC increased their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, BMO Capital Markets lifted their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s 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 transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on 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 sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents 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. Insiders sold a total of 367,910 shares of company stock worth $22,420,797 in the last ninety days. Insiders own 0.19% of the company’s stock.

Baker Hughes Trading Down 0.4%

BKR stock opened at $56.31 on Tuesday. 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 Company has a twelve month low of $37.69 and a twelve month high of $70.41. The company has a market cap of $55.86 billion, a P/E ratio of 17.99, a PEG ratio of 2.04 and a beta of 0.93. The business has a fifty day moving average of $63.48 and a 200-day moving average of $58.65.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s dividend 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.