Baker Hughes Company $BKR Shares Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management LLP cut its Baker Hughes stake by 57.4% in the third quarter, selling 534,674 shares and retaining 397,158 shares valued at approximately $21.8 million.
• Other institutional investors increased their holdings, and institutions collectively own 92.06% of Baker Hughes’ outstanding shares.
• Baker Hughes reported quarterly EPS of $0.64, beating estimates by $0.13, while revenue reached $6.74 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.41, and the company pays a quarterly dividend of $0.23.

Artemis Investment Management LLP lessened its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 57.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 397,158 shares of the company's stock after selling 534,674 shares during the period. Artemis Investment Management LLP's holdings in Baker Hughes were worth $21,804,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BKR. Everhart Financial Group Inc. increased its holdings in shares of Baker Hughes by 67.4% in the third quarter. Everhart Financial Group Inc. now owns 6,077 shares of the company's stock valued at $334,000 after buying an additional 2,447 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Baker Hughes by 55.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,357 shares of the company's stock valued at $569,000 after acquiring an additional 3,682 shares during the last quarter. Quintet Private Bank Europe S.A. bought a new stake in shares of Baker Hughes during the 3rd quarter worth $490,000. Whalen Wealth Management Inc. boosted its stake in shares of Baker Hughes by 14.0% during the 3rd quarter. Whalen Wealth Management Inc. now owns 5,015 shares of the company's stock worth $275,000 after acquiring an additional 615 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Baker Hughes by 260.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company's stock worth $27,000 after acquiring an additional 359 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Trading Up 1.6%

NASDAQ BKR opened at $56.30 on Friday. 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 1-year low of $43.92 and a 1-year high of $70.41. The firm's fifty day simple moving average is $60.52 and its 200-day simple moving average is $61.07. The company has a market capitalization of $55.89 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.63 and a beta of 1.04.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes's dividend payout ratio is currently 29.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on Baker Hughes from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Tuesday, September 29th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Baker Hughes from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Wolfe Research began coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They set an "outperform" rating and a $70.00 price target on the stock. Finally, Morgan Stanley began coverage on shares of Baker Hughes in a research note on Friday, August 7th. They set an "overweight" rating and a $70.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and an average price target of $71.41.

Baker Hughes Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.