Banco Bilbao Vizcaya Argentaria S.A. Boosts Stake in Baker Hughes Company $BKR

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 27.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 643,837 shares of the company’s stock after purchasing an additional 139,188 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Baker Hughes were worth $24,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Kingsman Wealth Management Inc. purchased a new position in Baker Hughes during the first quarter worth about $442,000. Empower Advisory Group LLC increased its position in Baker Hughes by 0.5% during the 1st quarter. Empower Advisory Group LLC now owns 2,120,493 shares of the company’s stock worth $93,196,000 after purchasing an additional 9,524 shares during the period. HB Wealth Management LLC increased its position in Baker Hughes by 51.3% during the 1st quarter. HB Wealth Management LLC now owns 40,808 shares of the company’s stock worth $1,794,000 after purchasing an additional 13,839 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Baker Hughes by 10.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,276 shares of the company’s stock worth $80,748,000 after buying an additional 180,809 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock valued at $474,226,000 after buying an additional 283,454 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company’s stock.

Baker Hughes Trading Down 0.0%

Shares of BKR opened at $47.51 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92. The stock has a market cap of $46.88 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The firm has a 50 day simple moving average of $47.44 and a 200-day simple moving average of $42.71.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion for the quarter. Equities analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BKR. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Cowen reissued a “buy” rating on shares of Baker Hughes in a report on Monday, October 27th. Stifel Nicolaus increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a report on Monday, October 27th. Finally, HSBC lifted their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.38.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.