Baker Hughes Company $BKR Shares Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its Baker Hughes stake by 2.0% in the fourth quarter, buying 37,473 additional shares and ending with 1,892,101 shares valued at about $86.2 million.
• Insiders sold shares recently, including CAO Rebecca L. Charlton and CEO Lorenzo Simonelli, with insiders selling 367,910 shares over the last 90 days in total.
• Baker Hughes posted mixed operating results, beating EPS expectations in its latest quarter but missing revenue estimates; the company also pays a quarterly dividend of $0.23 per share, yielding about 1.7% annually.

Hsbc Holdings PLC increased its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,892,101 shares of the company's stock after purchasing an additional 37,473 shares during the period. Hsbc Holdings PLC owned 0.19% of Baker Hughes worth $86,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BKR. Deseret Mutual Benefit Administrators grew its position in shares of Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company's stock worth $86,000 after acquiring an additional 179 shares during the last quarter. Krilogy Financial LLC lifted its position in Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock valued at $261,000 after purchasing an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC lifted its position in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company's stock valued at $1,944,000 after purchasing an additional 203 shares during the last quarter. Formidable Asset Management LLC boosted its stake in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock valued at $358,000 after purchasing an additional 225 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock valued at $74,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The stock was 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 approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business's stock in a transaction on Monday, June 22nd. The stock was 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 directly owned 703,444 shares in the company, valued at $41,102,232.92. This represents a 20.50% decrease in their position. 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 ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

BKR stock opened at $52.78 on Friday. Baker Hughes Company has a 52 week low of $38.37 and a 52 week high of $70.41. The company has a market capitalization of $52.36 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The firm's 50-day moving average is $62.94 and its two-hundred day moving average is $58.75. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period last year, the firm posted $0.51 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. On average, analysts forecast that Baker Hughes Company will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared 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. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes's dividend payout ratio (DPR) is presently 29.39%.

Analyst Ratings Changes

Several equities research analysts have commented on BKR shares. TD Cowen raised their price target on shares of Baker Hughes from $75.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. Argus raised their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $60.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Finally, Citigroup cut their target price on Baker Hughes from $80.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.57.

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.

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