Aventail Capital Group LP Sells 372,428 Shares of Baker Hughes Company $BKR

Aventail Capital Group LP lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 79.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,553 shares of the company’s stock after selling 372,428 shares during the period. Aventail Capital Group LP’s holdings in Baker Hughes were worth $4,260,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BKR. State Street Corp boosted its stake in Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after buying an additional 937,614 shares during the period. Cardano Risk Management B.V. boosted its stake in Baker Hughes by 1,005.1% during the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after buying an additional 44,887,481 shares during the period. Capital World Investors boosted its stake in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after buying an additional 3,153,709 shares during the period. Geode Capital Management LLC boosted its stake in Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after buying an additional 204,534 shares during the period. Finally, Capital Research Global Investors boosted its stake in Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after buying an additional 1,728,016 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several recent analyst reports. TD Cowen lifted their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research note on Sunday, April 26th. Royal Bank Of Canada lifted their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. UBS Group lifted their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Johnson Rice initiated coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Baker Hughes Stock Down 2.4%

Shares of BKR opened at $60.07 on Thursday. The firm has a market capitalization of $59.59 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.19 and a beta of 0.93. Baker Hughes Company has a 12-month low of $37.38 and a 12-month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $64.17 and a 200-day moving average price of $58.19.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the sale, the chief executive officer directly owned 784,944 shares in the company, valued at $49,734,051.84. The trade was a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

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.