Banco Bilbao Vizcaya Argentaria S.A. Acquires 195,430 Shares of Baker Hughes Company $BKR

Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 63.2% in the 1st quarter, Holdings Channel reports. The firm owned 504,649 shares of the company’s stock after buying an additional 195,430 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Baker Hughes were worth $22,206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prosperity Consulting Group LLC lifted its stake in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock worth $463,000 after purchasing an additional 278 shares during the last quarter. Greenleaf Trust lifted its stake in Baker Hughes by 2.2% during the first quarter. Greenleaf Trust now owns 13,852 shares of the company’s stock worth $609,000 after purchasing an additional 293 shares during the last quarter. Commerce Bank lifted its stake in shares of Baker Hughes by 1.0% in the 4th quarter. Commerce Bank now owns 31,075 shares of the company’s stock valued at $1,275,000 after acquiring an additional 300 shares during the last quarter. TCTC Holdings LLC lifted its stake in shares of Baker Hughes by 7.7% in the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company’s stock valued at $185,000 after acquiring an additional 301 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company’s stock valued at $33,000 after acquiring an additional 320 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.87 on Tuesday. 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 business has a 50-day moving average price of $40.99 and a two-hundred day moving average price of $40.78. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a market cap of $42.26 billion, a P/E ratio of 14.01, a PEG ratio of 1.95 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period last year, the business posted $0.57 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BKR. Seaport Res Ptn cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 29th. TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Piper Sandler dropped their price target on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $53.00 price target (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Baker Hughes 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.