Groupama Asset Managment Purchases 11,297 Shares of Baker Hughes Company $BKR

Groupama Asset Managment increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,932,305 shares of the company’s stock after acquiring an additional 11,297 shares during the period. Baker Hughes comprises approximately 1.7% of Groupama Asset Managment’s holdings, making the stock its 17th largest holding. Groupama Asset Managment owned approximately 0.19% of Baker Hughes worth $117,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EFG International AG acquired a new position in Baker Hughes in the fourth quarter worth $26,000. Cullen Frost Bankers Inc. increased 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 buying an additional 468 shares in the last quarter. Quarry LP acquired a new stake in shares of Baker Hughes in the fourth quarter valued at $31,000. MV Capital Management Inc. bought a new position in shares of Baker Hughes in the fourth quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of Baker Hughes in the fourth quarter valued at about $35,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes 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 completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The transaction 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 Baker Hughes stock in a transaction on 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 sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. 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. Insiders sold 367,910 shares of company stock worth $22,420,797 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

Shares of BKR stock opened at $60.49 on Friday. The firm has a market cap of $60.05 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.90 and a beta of 0.96. Baker Hughes Company has a 12 month low of $41.96 and a 12 month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $59.36 and a 200 day moving average price of $60.25.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Research analysts expect that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s payout ratio is 29.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BKR shares. Evercore reissued an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. UBS Group set a $51.00 price objective on shares of Baker Hughes in a research report on Tuesday. Weiss Ratings downgraded shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Barclays reduced 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, July 16th. Finally, Citigroup increased their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $69.95.

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.