Candriam S.C.A. Sells 10,648 Shares of Baker Hughes Company $BKR

Candriam S.C.A. cut its stake in Baker Hughes Company (NASDAQ:BKR) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,377 shares of the company’s stock after selling 10,648 shares during the period. Candriam S.C.A.’s holdings in Baker Hughes were worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BKR. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at approximately $30,000. Harbour Investments Inc. boosted its position in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in Baker Hughes in the 2nd quarter valued at $36,000. LRI Investments LLC increased its stake in shares of Baker Hughes by 59.3% in the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after buying an additional 384 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Baker Hughes during the second quarter worth $43,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKR has been the topic of several recent research reports. Capital One Financial raised their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 27th. HSBC boosted their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Evercore ISI set a $54.00 price objective on shares of Baker Hughes in a report on Monday, October 27th. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.38.

Insider Activity

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $48.73 on Friday. The firm’s 50 day simple moving average is $47.51 and its 200 day simple moving average is $42.84. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The company has a market capitalization of $48.09 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.06 and a beta of 1.03. 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 (NASDAQ:BKR) last issued its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

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.