Hsbc Holdings PLC Has $86.23 Million Stake in Baker Hughes Company $BKR

Hsbc Holdings PLC grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,892,101 shares of the company’s stock after purchasing an additional 37,473 shares during the period. Hsbc Holdings PLC’s holdings in Baker Hughes were worth $86,230,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BKR. Woodline Partners LP boosted its position in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its position in Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Jump Financial LLC purchased a new stake in Baker Hughes in the 2nd quarter valued at $2,301,000. NewEdge Advisors LLC lifted its stake in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in Baker Hughes during the 2nd quarter valued at $1,014,000. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen upped their target price 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. Barclays reissued an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Evercore reiterated an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a research note on Monday, April 27th. Finally, Argus boosted their target price on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.14.

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 owned 784,944 shares of the company’s stock, valued at approximately $49,734,051.84. This trade represents a 18.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents 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. Company insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $58.41 on Monday. 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 business’s 50 day simple moving average is $64.02 and its 200 day simple moving average is $58.31. The company has a market cap of $57.95 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.11 and a beta of 0.93.

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, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Baker Hughes Company will post 2.28 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is presently 29.39%.

About Baker Hughes

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.