Baker Hughes Company $BKR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Baker Hughes Company (NASDAQ:BKR) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 464,388 shares of the company’s stock after selling 28,834 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Baker Hughes were worth $25,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Baker Hughes by 152.3% during the 2nd quarter. NewEdge Advisors LLC now owns 149,817 shares of the company’s stock valued at $8,315,000 after purchasing an additional 90,427 shares during the period. National Pension Service lifted its holdings in Baker Hughes by 29.0% in the 2nd quarter. National Pension Service now owns 1,867,731 shares of the company’s stock worth $103,659,000 after buying an additional 419,426 shares during the period. Fifth Third Bancorp lifted its holdings in Baker Hughes by 367.1% in the 1st quarter. Fifth Third Bancorp now owns 199,621 shares of the company’s stock worth $12,187,000 after buying an additional 156,881 shares during the period. Allworth Financial LP grew its position in shares of Baker Hughes by 19.5% in the 2nd quarter. Allworth Financial LP now owns 231,538 shares of the company’s stock worth $12,850,000 after buying an additional 37,814 shares during the last quarter. Finally, CenterBook Partners LP grew its position in shares of Baker Hughes by 107.5% in the 3rd quarter. CenterBook Partners LP now owns 59,083 shares of the company’s stock worth $3,244,000 after buying an additional 30,612 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Baker Hughes stock opened at $49.41 on Thursday. The stock’s 50 day simple moving average is $56.04 and its two-hundred day simple moving average is $59.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. The stock has a market cap of $49.07 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.28 and a beta of 1.07. Baker Hughes Company has a fifty-two week low of $44.26 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that Baker Hughes Company will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s payout ratio is currently 31.72%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reduced their target price on Baker Hughes from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Piper Sandler dropped their price target on Baker Hughes from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Jefferies Financial Group cut their price target on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Freedom Broker upgraded shares of Baker Hughes from a “sell” rating to a “hold” rating and upped their price objective for the stock from $51.00 to $52.00 in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.27.

Insider Buying and Selling at Baker Hughes

In other news, Director John Rice purchased 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average cost of $53.10 per share, with a total value of $531,000.00. Following the completion of the purchase, the director directly owned 77,315 shares in the company, valued at approximately $4,105,426.50. This trade represents a 14.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.