Eurizon Capital SGR S.p.A. Invests $144.26 Million in Baker Hughes Company $BKR

Eurizon Capital SGR S.p.A. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,161,998 shares of the company’s stock, valued at approximately $144,262,000.

A number of other institutional investors also recently modified their holdings of the company. Krilogy Financial LLC boosted its holdings in shares of Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares during the period. Formidable Asset Management LLC boosted its holdings in shares of Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of Baker Hughes by 16.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after purchasing an additional 228 shares during the period. AMG National Trust Bank lifted its holdings in Baker Hughes by 3.7% in the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after buying an additional 246 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on BKR shares. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Royal Bank Of Canada upped their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Citigroup lifted their price target on Baker Hughes from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.41.

Baker Hughes Price Performance

BKR stock opened at $63.88 on Friday. The firm has a 50 day moving average price of $63.69 and a 200-day moving average price of $56.79. Baker Hughes Company has a 52-week low of $36.53 and a 52-week high of $70.41. The firm has a market capitalization of $63.37 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last released its 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. 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 analyst estimates of $6.71 billion. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts forecast that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

Baker Hughes 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.