ABN Amro Investment Solutions Raises Stock Holdings in Baker Hughes Company $BKR

ABN Amro Investment Solutions raised its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 16.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 196,845 shares of the company’s stock after acquiring an additional 27,862 shares during the period. ABN Amro Investment Solutions’ holdings in Baker Hughes were worth $12,017,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BKR. EFG International AG bought a new position in Baker Hughes during the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. grew its position in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the period. Quarry LP bought a new stake in Baker Hughes in the 4th quarter worth approximately $31,000. MV Capital Management Inc. purchased a new stake in Baker Hughes during the 4th quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in Baker Hughes during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a research note on Monday. Evercore reiterated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Weiss Ratings downgraded Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Piper Sandler dropped their target price on Baker Hughes from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus boosted their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock worth $22,420,797 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $56.60 on Thursday. The stock has a market cap of $56.15 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.35 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock’s fifty day moving average is $60.31 and its 200 day moving average is $59.85. Baker Hughes Company has a one year low of $41.15 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released 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 during the quarter, compared to analyst estimates 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 for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share. Sell-side analysts anticipate that Baker Hughes Company will post 2.26 earnings per share for the current year.

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.