Choreo LLC Has $1.36 Million Holdings in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Choreo LLC reduced its stake in Baker Hughes Company by 18.4% in the first quarter, now holding 30,963 shares worth approximately $1.36 million.
• Baker Hughes recently announced a quarterly dividend of $0.23 per share, which amounts to an annual yield of 2.00%, with the dividend payout ratio currently at 30.07%.
• Despite a quarterly revenue drop of 3.2% year-over-year, Baker Hughes reported earnings per share of $0.63, surpassing expectations by $0.08, with a net margin of 11.04%.

Choreo LLC lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 18.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,963 shares of the company's stock after selling 6,980 shares during the period. Choreo LLC's holdings in Baker Hughes were worth $1,361,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. HighPoint Advisor Group LLC raised its position in Baker Hughes by 4.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 9,488 shares of the company's stock worth $417,000 after purchasing an additional 380 shares during the last quarter. Kingsman Wealth Management Inc. bought a new position in Baker Hughes in the 1st quarter worth approximately $442,000. Los Angeles Capital Management LLC raised its position in Baker Hughes by 1.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,158,855 shares of the company's stock worth $50,932,000 after purchasing an additional 16,379 shares during the last quarter. Wealth Alliance LLC bought a new position in Baker Hughes in the 1st quarter worth approximately $201,000. Finally, Lindbrook Capital LLC raised its position in Baker Hughes by 61.7% in the 1st quarter. Lindbrook Capital LLC now owns 6,412 shares of the company's stock worth $282,000 after purchasing an additional 2,447 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. TD Cowen boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley boosted their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Susquehanna lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.06.

Baker Hughes Trading Down 1.5%

Shares of BKR stock traded down $0.71 on Tuesday, hitting $45.84. The stock had a trading volume of 6,106,088 shares, compared to its average volume of 8,034,444. 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 $45.41 billion, a P/E ratio of 14.98, a PEG ratio of 5.71 and a beta of 0.91. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $39.06 and a two-hundred day moving average price of $40.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $0.57 EPS. The firm's revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

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.