Banque Cantonale Vaudoise Acquires New Shares in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Baker Hughes Company, purchasing 50,116 shares valued at approximately $2.2 million in the 1st quarter.
• Baker Hughes reported an EPS of $0.63 for the last quarter, surpassing expectations and generating revenue of $6.91 billion, though down 3.2% year-over-year.
• The company announced a quarterly dividend of $0.23 per share, resulting in an annualized yield of 2.01%, with dividends to be paid on August 15th.

Banque Cantonale Vaudoise bought a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,116 shares of the company's stock, valued at approximately $2,202,000.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Baker Hughes by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after buying an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Baker Hughes by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after buying an additional 8,351 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Stack Financial Management Inc bought a new position in Baker Hughes during the 1st quarter worth approximately $12,890,000. Finally, Principal Financial Group Inc. lifted its holdings in Baker Hughes by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after buying an additional 82,706 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction 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. The trade was a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock traded down $1.54 during mid-day trading on Friday, hitting $43.51. 7,323,705 shares of the stock traded hands, compared to its average volume of 8,645,018. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The firm has a market cap of $42.90 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 5.54 and a beta of 0.94. The company's 50-day simple moving average is $39.58 and its 200-day simple moving average is $41.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. Baker Hughes's payout ratio is currently 30.07%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BKR shares. Barclays increased their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Cowen raised their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. TD Securities cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group reissued a "neutral" rating and issued a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a report on Wednesday. Finally, Piper Sandler cut their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $51.47.

Baker Hughes Company 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.