Fulcrum Asset Management LLP Has $3 Million Holdings in Baker Hughes Company $BKR

Fulcrum Asset Management LLP lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 35.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 62,031 shares of the company’s stock after selling 33,468 shares during the quarter. Baker Hughes makes up approximately 2.0% of Fulcrum Asset Management LLP’s investment portfolio, making the stock its 8th largest position. Fulcrum Asset Management LLP’s holdings in Baker Hughes were worth $3,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its holdings 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 worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after buying an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Baker Hughes during the second quarter valued at approximately $36,000. Rothschild Investment LLC raised its position in Baker Hughes by 66.6% in the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after acquiring an additional 496 shares during the period. Finally, Spire Wealth Management raised its position in Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after acquiring an additional 798 shares during the period. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the sale, the chief accounting officer directly owned 12,052 shares in the company, valued at $672,140.04. This trade represents a 14.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is currently owned by insiders.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $57.00 on Wednesday. The stock has a market cap of $56.33 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.83. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The firm has a fifty day moving average price of $57.58 and a 200-day moving average price of $50.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00.

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

Baker Hughes Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BKR. Zephirin Group boosted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. TD Cowen lifted their target price on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Finally, Capital One Financial upped their price target on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.