Baker Hughes Company $BKR Holdings Lowered by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 29.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,701 shares of the company’s stock after selling 57,946 shares during the quarter. Baker Hughes accounts for about 1.8% of Fulcrum Asset Management LLP’s investment portfolio, making the stock its 11th largest holding. Fulcrum Asset Management LLP’s holdings in Baker Hughes were worth $6,611,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new position in shares of Baker Hughes in the third quarter worth approximately $8,394,000. WBI Investments LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $1,059,000. Coldstream Capital Management Inc. boosted its stake in Baker Hughes by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 13,183 shares of the company’s stock worth $642,000 after purchasing an additional 288 shares during the period. Danske Bank A S acquired a new position in Baker Hughes in the 3rd quarter worth approximately $4,310,000. Finally, Advisory Services Network LLC grew its position in Baker Hughes by 3.4% during the 3rd quarter. Advisory Services Network LLC now owns 31,087 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,024 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In other news, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock worth $35,311,023 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BKR shares. Barclays upped their price target on Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. UBS Group raised their price objective on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Citigroup lifted their target price on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $59.61.

Baker Hughes Stock Performance

Shares of BKR opened at $57.48 on Thursday. The firm has a market cap of $56.80 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The company’s fifty day moving average is $57.76 and its 200-day moving average is $51.04. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $67.00.

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

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s payout ratio is currently 35.38%.

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.