ING Groep NV Lowers Holdings in Baker Hughes Company $BKR

ING Groep NV decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 56.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,885 shares of the company’s stock after selling 11,739 shares during the period. ING Groep NV’s holdings in Baker Hughes were worth $405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its holdings in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after buying an additional 300 shares in the last quarter. Hilltop National Bank lifted its holdings in shares of Baker Hughes by 26.7% in the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after buying an additional 300 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Baker Hughes by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the company’s stock worth $66,000 after acquiring an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. HSBC lifted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Citigroup cut their price objective on Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Susquehanna boosted their target price on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Finally, TD Cowen raised their price target on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.14.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $63.02 on Thursday. Baker Hughes Company has a 52 week low of $37.38 and a 52 week high of $70.41. The stock has a market capitalization of $62.52 billion, a P/E ratio of 20.13, a PEG ratio of 2.26 and a beta of 0.93. The firm has a fifty day simple moving average of $64.01 and a two-hundred day simple moving average of $57.74. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the company earned $0.51 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is 29.39%.

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.