Freemont Management S.A. Increases Position in Baker Hughes Company $BKR

Freemont Management S.A. grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 197.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,600 shares of the company’s stock after buying an additional 13,000 shares during the period. Freemont Management S.A.’s holdings in Baker Hughes were worth $893,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Spire Wealth Management raised its holdings in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares in the last quarter. Finally, N.E.W. Advisory Services LLC raised its holdings in Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after purchasing an additional 416 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the 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 sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 550,250 shares of company stock worth $32,988,331 over the last quarter. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

BKR has been the subject of several analyst reports. Susquehanna increased their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Argus increased their price target on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Capital One Financial increased their price target on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.18.

Baker Hughes Trading Up 0.3%

Shares of Baker Hughes stock opened at $65.41 on Thursday. Baker Hughes Company has a 12-month low of $35.83 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 stock has a market cap of $64.89 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. The company has a 50-day moving average of $62.05 and a two-hundred day moving average of $55.36.

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

Baker Hughes Dividend Announcement

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

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.