Baker Hughes Company $BKR Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lessened its position in Baker Hughes Company (NASDAQ:BKR) by 40.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 984,117 shares of the company’s stock after selling 655,412 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.10% of Baker Hughes worth $60,080,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BKR. EFG International AG purchased a new stake in Baker Hughes during the fourth quarter worth about $26,000. Cullen Frost Bankers Inc. boosted its stake in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares during the period. Quarry LP purchased a new position in shares of Baker Hughes in the fourth quarter valued at approximately $31,000. MV Capital Management Inc. acquired a new position in shares of Baker Hughes in the fourth quarter valued at approximately $34,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes News Summary

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes won EU antitrust approval for its $13.6 billion acquisition of Chart Industries after agreeing to divest certain LNG technology assets, removing a key regulatory hurdle for the deal. Baker Hughes wins conditional EU nod for $13.6 billion Chart deal
• Positive Sentiment: The company also secured substantial equipment and services awards for Cheniere’s Sabine Pass LNG facility, including liquefaction equipment and turbine upgrades, reinforcing growth in its LNG infrastructure business. Baker Hughes Secures Substantial Equipment and Services Awards for Cheniere’s Sabine Pass LNG Facility
• Positive Sentiment: Reuters reported that U.S. energy firms added rigs for a fourth straight week, which can signal steadier upstream activity and support demand for Baker Hughes’ oilfield services. US energy firms add rigs for fourth week in a row, says Baker Hughes
• Positive Sentiment: Wolfe Research initiated coverage with an “outperform” rating and a $70 price target, suggesting additional upside versus recent trading levels. The Fly coverage note
• Neutral Sentiment: Brokerage sentiment remains constructive overall, with Baker Hughes receiving an average “Moderate Buy” rating from analysts.
• Neutral Sentiment: Short-interest data showed no meaningful change in shares sold short, so it does not appear to be a major trading driver today.
• Negative Sentiment: One article noted Baker Hughes is closing a facility and laying off employees, which could raise restructuring concerns, though the impact appears secondary to the stronger LNG and deal-related headlines. HBJ: Baker Hughes closing facility, laying off employees

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $57.56 on Monday. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.06 and a beta of 0.96. The firm’s fifty day simple moving average is $61.78 and its 200-day simple moving average is $59.22. Baker Hughes Company has a twelve month low of $38.37 and a twelve 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.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Equities analysts forecast that Baker Hughes Company will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Capital One Financial increased their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Royal Bank Of Canada boosted their price target 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. Argus upped their price objective on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $70.14.

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.