Baker Hughes Company $BKR Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its Baker Hughes stake by 33.8% in the second quarter, selling 32,834 shares and retaining 64,193 shares valued at approximately $3.56 million. Institutional investors and hedge funds collectively own 92.06% of the stock.
• Baker Hughes exceeded quarterly expectations, reporting $0.64 EPS and $6.74 billion in revenue, with revenue up 2.4% year over year. Analysts expect full-year EPS of $2.53.
• The company maintains a quarterly dividend of $0.23, or $0.92 annually for a 1.6% yield. Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $71.81.

Corient Private Wealth LP lessened its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 33.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,193 shares of the company's stock after selling 32,834 shares during the quarter. Corient Private Wealth LP's holdings in Baker Hughes were worth $3,563,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. raised its position in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock valued at $27,000 after purchasing an additional 468 shares during the period. MV Capital Management Inc. purchased a new stake in Baker Hughes during the fourth quarter worth about $34,000. Jones Financial Companies Lllp acquired a new stake in shares of Baker Hughes during the second quarter worth about $39,000. Meeder Asset Management Inc. increased its stake in Baker Hughes by 49.0% during the 1st quarter. Meeder Asset Management Inc. now owns 651 shares of the company's stock worth $40,000 after buying an additional 214 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in Baker Hughes during the 1st quarter worth approximately $49,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $57.25 on Monday. The company has a market capitalization of $56.83 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.55 and a beta of 0.96. The business has a 50 day moving average price of $60.72 and a 200 day moving average price of $61.27. Baker Hughes Company has a 1 year low of $43.92 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results 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 company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.53 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on BKR shares. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Barclays dropped their target price on shares of Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 16th. Susquehanna boosted their price target on shares of Baker Hughes from $72.00 to $75.00 and gave the company a "positive" rating in a research report on Thursday, September 10th. TD Cowen boosted their price target on shares of Baker Hughes from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Baker Hughes in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $71.81.

Baker Hughes Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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