BNP Paribas Sells 45,536 Shares of Baker Hughes Company $BKR

BNP Paribas cut its position in shares of Baker Hughes Company (NASDAQ:BKR) by 42.2% during the 3rd quarter, Holdings Channel reports. The firm owned 62,434 shares of the company’s stock after selling 45,536 shares during the quarter. BNP Paribas’ holdings in Baker Hughes were worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. Norges Bank acquired a new stake in Baker Hughes in the 2nd quarter valued at about $862,722,000. Capital International Investors acquired a new position in Baker Hughes during the third quarter worth approximately $729,670,000. First Trust Advisors LP raised its stake in Baker Hughes by 76.0% in the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after buying an additional 3,203,942 shares during the period. Capital World Investors raised its stake in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Baker Hughes by 247.5% in the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after buying an additional 2,232,394 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $54.26 on Friday. The firm has a market cap of $53.62 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.47 and a beta of 0.83. The business’s 50 day moving average is $57.31 and its 200-day moving average is $50.80. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $67.00.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the previous year, the company posted $0.70 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Insider Buying and Selling at Baker Hughes

In related news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider directly owned 14,588 shares in the company, valued at approximately $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Argus lifted their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a report on Tuesday, January 27th. Finally, Susquehanna increased their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.61.

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.