Baker Hughes Company $BKR Stock: Fulcrum Asset Management LLP Decreases Stake

Fulcrum Asset Management LLP trimmed its holdings in Baker Hughes Company (NASDAQ:BKR) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,676 shares of the company’s stock after selling 26,933 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Baker Hughes were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in Baker Hughes by 0.6% in the first quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after purchasing an additional 163 shares during the period. Resolute Wealth Strategies LLC increased its position in Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after buying an additional 172 shares in the last quarter. Meeder Asset Management Inc. increased its position in Baker Hughes by 49.0% during the 1st quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after buying an additional 214 shares in the last quarter. Paladin Wealth LLC boosted its holdings in Baker Hughes by 2.6% in the third quarter. Paladin Wealth LLC now owns 9,162 shares of the company’s stock worth $503,000 after acquiring an additional 230 shares in the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Baker Hughes by 36.3% in the second quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock worth $53,000 after acquiring an additional 254 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.2%

Baker Hughes stock opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41. The stock has a market capitalization of $48.09 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.38 and a beta of 1.07. The business’s fifty day moving average is $56.64 and its 200 day moving average is $60.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, sell-side analysts predict that Baker Hughes Company will post 2.56 EPS for the current year.

Baker Hughes Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on BKR shares. Freedom Broker upgraded Baker Hughes from a “sell” rating to a “hold” rating and raised their price target for the company from $51.00 to $52.00 in a report on Friday, October 30th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. TD Cowen increased their price objective on shares of Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Morgan Stanley reduced their price objective on shares of Baker Hughes from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Baker Hughes in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $70.27.

Insider Buying and Selling

In other news, Director John Rice bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were bought at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the purchase, the director owned 77,315 shares in the company, valued at approximately $4,105,426.50. The trade was a 14.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Baker Hughes Company Profile

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.

Baker Hughes serves customers around the world.