Barclays PLC Has $134.44 Million Stake in Baker Hughes Company $BKR

Barclays PLC lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 11.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,952,201 shares of the company’s stock after selling 381,752 shares during the period. Barclays PLC’s holdings in Baker Hughes were worth $134,443,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BKR. Pinion Investment Advisors LLC purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $778,000. Nordea Investment Management AB boosted its stake in shares of Baker Hughes by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after buying an additional 367,728 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the last quarter. Finally, Nkcfo LLC purchased a new position in shares of Baker Hughes in the 3rd quarter worth approximately $2,967,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.1%

NASDAQ:BKR opened at $62.46 on Tuesday. 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 capitalization of $61.96 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The firm’s 50 day moving average is $64.16 and its 200 day moving average is $58.03. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly 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 company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. Sell-side analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on 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 owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore restated an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. HSBC boosted their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Citigroup cut their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Argus boosted their target price on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes 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.