Marathon Asset Management Ltd Sells 23,515 Shares of Baker Hughes Company $BKR

Marathon Asset Management Ltd cut its position in Baker Hughes Company (NASDAQ:BKR) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,979 shares of the company’s stock after selling 23,515 shares during the quarter. Marathon Asset Management Ltd’s holdings in Baker Hughes were worth $11,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after buying an additional 468 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Baker Hughes in the third quarter valued at $65,000. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% 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 hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 550,250 shares of company stock valued at $32,988,331 in the last three months. Insiders own 0.19% of the company’s stock.

Baker Hughes Trading Down 1.1%

BKR stock opened at $65.47 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a fifty day moving average price of $62.39 and a two-hundred day moving average price of $55.86. Baker Hughes Company has a one year low of $35.83 and a one year high of $70.41. The stock has a market cap of $64.95 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.41 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS 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 firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HSBC raised their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Capital One Financial lifted their price objective on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Citigroup lifted their price objective on shares of Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Zacks Research cut shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, iA Financial set a $60.00 price objective on shares of Baker Hughes in a research report on Tuesday, January 27th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $69.18.

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.