Cardano Risk Management B.V. Cuts Stake in Baker Hughes Company $BKR

Cardano Risk Management B.V. lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,141,884 shares of the company’s stock after selling 610,168 shares during the period. Baker Hughes comprises about 1.3% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 22nd biggest position. Cardano Risk Management B.V. owned 0.32% of Baker Hughes worth $174,375,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BKR. Woodline Partners LP boosted its position in Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the period. Focus Partners Wealth increased its stake in Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after purchasing an additional 986 shares during the period. Jump Financial LLC purchased a new position in shares of Baker Hughes in the second quarter worth $2,301,000. NewEdge Advisors LLC raised its stake in shares of Baker Hughes by 4.0% during the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC bought a new position in Baker Hughes during the 2nd quarter valued at approximately $1,014,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $61.55 on Friday. The company has a 50 day simple moving average of $59.03 and a two-hundred day simple moving average of $60.65. Baker Hughes Company has a fifty-two week low of $41.96 and a fifty-two week high of $70.41. The company has a market capitalization of $61.10 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09.

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

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s payout ratio is 29.68%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Capital One Financial increased their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. BMO Capital Markets lifted their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Weiss Ratings cut Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Finally, Evercore reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.95.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% 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 three months. Corporate insiders own 0.19% of the company’s stock.

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.