Aubrey Capital Management Ltd bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,300 shares of the company's stock, valued at approximately $2,735,000. Baker Hughes comprises 1.7% of Aubrey Capital Management Ltd's portfolio, making the stock its 28th largest holding.
Several other institutional investors and hedge funds also recently modified their holdings of BKR. Cardano Risk Management B.V. boosted its stake in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock worth $2,247,550,000 after buying an additional 44,887,481 shares during the last quarter. Norges Bank acquired a new position in shares of Baker Hughes during the 4th quarter valued at about $1,022,491,000. Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company's stock valued at $529,896,000 after acquiring an additional 4,278,573 shares during the last quarter. Bessemer Group Inc. lifted its holdings 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 worth $158,994,000 after acquiring an additional 3,464,637 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Baker Hughes during the 4th quarter worth about $144,262,000. 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 several research analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Baker Hughes in a research report on Thursday, July 9th. Capital One Financial increased their price target on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. TD Cowen increased their price target on shares of Baker Hughes from $77.00 to $78.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Piper Sandler lifted their price target on shares of Baker Hughes from $71.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada boosted their price objective on shares of Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.67.
Check Out Our Latest Research Report on BKR
Baker Hughes Stock Performance
NASDAQ:BKR opened at $63.55 on Tuesday. The firm's fifty day simple moving average is $59.35 and its 200 day simple moving average is $61.49. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a twelve month low of $43.92 and a twelve month high of $70.41. The firm has a market capitalization of $63.08 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.94 and a beta of 0.97.
Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.
Baker Hughes Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes's payout ratio is presently 29.68%.
Insider Buying and Selling at Baker Hughes
In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company's 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 transaction, the chief executive officer directly owned 703,444 shares of the company's stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value 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. The trade was 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 sold 367,910 shares of company stock valued at $22,420,797 over the last 90 days. Insiders own 0.19% of the company's stock.
Baker Hughes Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).
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