Baker Hughes Company $BKR Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in Baker Hughes Company (NASDAQ:BKR) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 840,991 shares of the company’s stock after selling 9,246 shares during the period. Natixis Advisors LLC’s holdings in Baker Hughes were worth $38,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Baker Hughes in the fourth quarter worth approximately $1,022,491,000. Capital International Investors acquired a new position in shares of Baker Hughes during the 3rd quarter valued at $729,670,000. Bessemer Group Inc. increased its position in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after purchasing an additional 3,464,637 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Baker Hughes in the 4th quarter worth $144,262,000. Finally, Capital World Investors raised its stake in shares of Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after buying an additional 3,153,709 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 282,745 shares of company stock worth $16,651,472 over the last 90 days. 0.19% of the stock is owned by company insiders.

Baker Hughes Stock Down 0.4%

Shares of Baker Hughes stock opened at $64.27 on Thursday. Baker Hughes Company has a 12-month low of $36.99 and a 12-month high of $70.41. The firm has a market capitalization of $63.76 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $63.86 and its 200-day moving average is $57.18.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued 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 dividend yield of 1.4%. Baker Hughes’s payout ratio is currently 29.39%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BKR shares. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. HSBC upped 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. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Finally, Piper Sandler lifted their price objective on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Company 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.