Hsbc Holdings PLC Buys 201,874 Shares of Baker Hughes Company $BKR

Hsbc Holdings PLC grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,093,975 shares of the company’s stock after purchasing an additional 201,874 shares during the period. Hsbc Holdings PLC’s holdings in Baker Hughes were worth $128,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EFG International AG acquired a new stake in shares of Baker Hughes in the 4th quarter valued at about $26,000. Cullen Frost Bankers Inc. increased its position in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after buying an additional 468 shares in the last quarter. Quarry LP acquired a new position in Baker Hughes during the 4th quarter worth approximately $31,000. MV Capital Management Inc. acquired a new position in Baker Hughes during the 4th quarter worth approximately $34,000. Finally, Acumen Wealth Advisors LLC bought a new position in Baker Hughes in the fourth quarter worth approximately $35,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $55.95 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock has a 50 day moving average price of $60.85 and a two-hundred day moving average price of $59.53. The firm has a market capitalization of $55.51 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.32 and a beta of 0.96. Baker Hughes Company has a 52 week low of $38.97 and a 52 week high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Baker Hughes Company will post 2.27 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 paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Analysts Set New Price Targets

A number of equities research analysts have commented on BKR shares. BMO Capital Markets raised their price objective on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings cut Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Capital One Financial boosted their price target on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Finally, Wolfe Research assumed coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 price objective on the stock. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated 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 in the company, valued at $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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. The trade was 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. Over the last 90 days, insiders have sold 367,910 shares of company stock worth $22,420,797. Company insiders own 0.19% of the company’s stock.

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.