Graphene Investments SAS Trims Stock Position in Baker Hughes Company $BKR

Graphene Investments SAS decreased its stake in Baker Hughes Company (NASDAQ:BKR) by 28.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,000 shares of the company’s stock after selling 21,000 shares during the period. Baker Hughes accounts for 2.1% of Graphene Investments SAS’s portfolio, making the stock its 13th biggest position. Graphene Investments SAS’s holdings in Baker Hughes were worth $3,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EFG International AG purchased a new stake in Baker Hughes in the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. grew its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the last quarter. Quarry LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth about $31,000. MV Capital Management Inc. acquired a new stake in shares of Baker Hughes during the fourth quarter worth about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $35,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Down 1.2%

NASDAQ:BKR opened at $56.54 on Friday. Baker Hughes Company has a 12-month low of $38.47 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’s 50 day simple moving average is $61.01 and its 200-day simple moving average is $59.56. The firm has a market cap of $56.09 billion, a P/E ratio of 18.06, a PEG ratio of 2.08 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm 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 company earned $0.51 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.27 EPS for the current year.

Baker Hughes Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. TD Cowen lifted their price target on Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Piper Sandler reduced their price objective on Baker Hughes from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday. Evercore reissued an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. Finally, Barclays lowered their target price on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 367,910 shares of company stock worth $22,420,797. Insiders own 0.19% of the company’s stock.

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.