Korea Investment CORP Decreases Stake in Baker Hughes Company $BKR

Korea Investment CORP lowered its position in shares of Baker Hughes Company (NASDAQ:BKR) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 871,411 shares of the company’s stock after selling 23,957 shares during the quarter. Korea Investment CORP owned 0.09% of Baker Hughes worth $33,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elevation Point Wealth Partners LLC purchased a new stake in shares of Baker Hughes during the second quarter valued at approximately $219,000. SCP Investment LP grew its stake in Baker Hughes by 111.1% in the 2nd quarter. SCP Investment LP now owns 22,800 shares of the company’s stock valued at $874,000 after purchasing an additional 12,000 shares during the period. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Baker Hughes during the 2nd quarter valued at $15,336,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Baker Hughes by 155.7% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 158,552 shares of the company’s stock worth $6,079,000 after purchasing an additional 96,534 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Baker Hughes by 4.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.3%

BKR opened at $50.17 on Friday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92. The company has a market cap of $49.51 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $47.97 and a 200 day moving average of $43.66.

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. On average, sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.8%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Analyst Ratings Changes

A number of analysts recently issued reports on BKR shares. Citigroup decreased their price objective on shares of Baker Hughes from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday, October 27th. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. UBS Group lifted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Cowen reiterated a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Insider Transactions at Baker Hughes

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

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.