AustralianSuper Pty Ltd Lowers Stock Position in Baker Hughes Company $BKR

AustralianSuper Pty Ltd lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 86.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,721 shares of the company’s stock after selling 425,322 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Baker Hughes were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Conning Inc. boosted its holdings in Baker Hughes by 17.3% in the 4th quarter. Conning Inc. now owns 5,215 shares of the company’s stock valued at $237,000 after purchasing an additional 771 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Baker Hughes by 315.9% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 2,749 shares of the company’s stock worth $125,000 after acquiring an additional 2,088 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Baker Hughes during the 4th quarter worth approximately $615,000. Freemont Management S.A. boosted its stake in shares of Baker Hughes by 197.0% during the 4th quarter. Freemont Management S.A. now owns 19,600 shares of the company’s stock worth $893,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Baker Hughes by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 113,040 shares of the company’s stock worth $5,148,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.8%

Shares of Baker Hughes stock opened at $64.12 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The company has a market capitalization of $63.61 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.35 and a beta of 0.97. The business has a 50 day moving average price of $62.16 and a 200 day moving average price of $55.54.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s payout ratio is 29.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BKR. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. TD Cowen boosted their price target on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. HSBC boosted their price target on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Piper Sandler boosted their price target on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Citigroup boosted their price target on Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $69.18.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction 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 owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 550,250 shares of company stock valued at $32,988,331 over the last quarter. 0.19% of the stock is currently owned by insiders.

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.