Baker Hughes Company $BKR Stock Holdings Boosted by Korea Investment CORP

Key Points

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Korea Investment CORP lifted its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 895,368 shares of the company's stock after acquiring an additional 76,470 shares during the period. Korea Investment CORP owned 0.09% of Baker Hughes worth $39,351,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group grew its position in shares of Baker Hughes by 73.6% during the first quarter. Brooklyn Investment Group now owns 11,891 shares of the company's stock worth $523,000 after acquiring an additional 5,042 shares during the last quarter. Affinity Investment Advisors LLC grew its position in shares of Baker Hughes by 9.9% during the first quarter. Affinity Investment Advisors LLC now owns 15,551 shares of the company's stock worth $683,000 after acquiring an additional 1,404 shares during the last quarter. Roberts Capital Advisors LLC bought a new position in shares of Baker Hughes during the first quarter worth about $605,000. Cresset Asset Management LLC grew its position in shares of Baker Hughes by 51.5% during the first quarter. Cresset Asset Management LLC now owns 11,309 shares of the company's stock worth $497,000 after acquiring an additional 3,845 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its position in shares of Baker Hughes by 24.1% during the first quarter. Tocqueville Asset Management L.P. now owns 108,458 shares of the company's stock worth $4,767,000 after acquiring an additional 21,065 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

BKR stock opened at $42.87 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40. The firm has a market capitalization of $42.26 billion, a PE ratio of 14.01, a P/E/G ratio of 1.95 and a beta of 0.94. The firm has a 50-day moving average of $40.99 and a two-hundred day moving average of $40.78.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The business's quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is 30.07%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and issued a $46.00 target price (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada decreased their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.47.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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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