Baker Hughes Company $BKR Shares Purchased by Cardano Risk Management B.V.

Key Points

• Cardano Risk Management B.V. increased its stake in Baker Hughes Company by 20.4%, owning a total of 4,949,808 shares, which represents approximately 2.4% of their holdings.
• Baker Hughes has received several analyst upgrades, with UBS raising its price target from $46.00 to $48.00 and a consensus rating of "Moderate Buy" from analysts.
• The company recently reported a net margin of 11.04% and revenue of $5.09 billion for the latest quarter, alongside a quarterly dividend of $0.23 per share.

Cardano Risk Management B.V. raised its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,949,808 shares of the company's stock after purchasing an additional 838,333 shares during the period. Baker Hughes accounts for approximately 2.4% of Cardano Risk Management B.V.'s holdings, making the stock its 12th biggest position. Cardano Risk Management B.V. owned approximately 0.50% of Baker Hughes worth $189,776,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BKR. Park Avenue Securities LLC lifted its stake in shares of Baker Hughes by 22.6% in the 1st quarter. Park Avenue Securities LLC now owns 28,149 shares of the company's stock worth $1,237,000 after acquiring an additional 5,192 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Baker Hughes by 73.1% in the 1st quarter. Farther Finance Advisors LLC now owns 6,945 shares of the company's stock worth $311,000 after acquiring an additional 2,933 shares during the period. GAMMA Investing LLC lifted its stake in shares of Baker Hughes by 27.9% in the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company's stock worth $578,000 after acquiring an additional 2,872 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Baker Hughes by 158.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 89,122 shares of the company's stock worth $3,917,000 after acquiring an additional 54,610 shares during the period. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Baker Hughes in the 1st quarter worth approximately $360,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday. Susquehanna upped their price target on shares of Baker Hughes from $52.00 to $56.00 and gave the stock a "positive" rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, September 30th. Seaport Res Ptn lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Finally, Evercore ISI increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.57.

Baker Hughes Stock Up 0.1%

BKR stock opened at $47.89 on Friday. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The company's 50 day simple moving average is $45.90 and its 200-day simple moving average is $41.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market capitalization of $47.21 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.18 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $5.09 billion for the quarter. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes's payout ratio is currently 30.07%.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,068 shares of company stock worth $24,712,651 over the last 90 days. 0.27% of the stock is owned by company insiders.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

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