Oddo BHF Asset Management Sas Takes Position in Baker Hughes Company $BKR

Oddo BHF Asset Management Sas purchased a new stake in Baker Hughes Company (NASDAQ:BKR) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,716 shares of the company’s stock, valued at approximately $1,143,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EFG International AG bought a new stake in Baker Hughes during the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. raised 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 worth $27,000 after acquiring an additional 468 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Quarry LP acquired a new position in shares of Baker Hughes during the fourth quarter worth approximately $31,000. Finally, MV Capital Management Inc. bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $59.90 on Friday. Baker Hughes Company has a twelve month low of $41.96 and a twelve 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 company has a market cap of $59.42 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.96. The business’s fifty day moving average is $59.47 and its 200-day moving average is $60.25.

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

Baker Hughes Dividend Announcement

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

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 367,910 shares of company stock worth $22,420,797 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKR. Piper Sandler raised their price target on shares of Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Stifel Nicolaus boosted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. HSBC upped their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Susquehanna lifted their price objective on Baker Hughes from $70.00 to $72.00 and gave the stock a “positive” rating in a research report on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.95.

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.