E Fund Management Co. Ltd. Acquires 13,481 Shares of Baker Hughes Company $BKR

Key Points

• E Fund Management Co. Ltd. increased its stake in Baker Hughes Co. by 93.5%, owning a total of 27,892 shares worth $1,226,000 after acquiring an additional 13,481 shares in the first quarter.
• Baker Hughes reported $0.63 earnings per share for the last quarter, exceeding analysts' expectations by $0.08, but its revenue decreased by 3.2% year-over-year to $6.91 billion.
• The company declared a quarterly dividend of $0.23 per share, which will be paid on August 15th, representing an annual yield of 2.1% with a payout ratio of 30.07%.

E Fund Management Co. Ltd. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 93.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,892 shares of the company's stock after purchasing an additional 13,481 shares during the period. E Fund Management Co. Ltd.'s holdings in Baker Hughes were worth $1,226,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bessemer Group Inc. lifted its stake in Baker Hughes by 6.8% in the 4th quarter. Bessemer Group Inc. now owns 13,994 shares of the company's stock worth $573,000 after acquiring an additional 891 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Baker Hughes by 20.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,591 shares of the company's stock worth $1,538,000 after acquiring an additional 6,375 shares in the last quarter. Townsquare Capital LLC lifted its stake in Baker Hughes by 8.3% in the 4th quarter. Townsquare Capital LLC now owns 23,345 shares of the company's stock worth $958,000 after acquiring an additional 1,794 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Baker Hughes by 2.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 41,125 shares of the company's stock worth $1,687,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Mariner LLC lifted its stake in Baker Hughes by 2.1% in the 4th quarter. Mariner LLC now owns 830,588 shares of the company's stock worth $34,069,000 after acquiring an additional 17,133 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.07 during trading on Monday, hitting $42.87. 3,713,929 shares of the stock were exchanged, compared to its average volume of 7,915,614. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a market capitalization of $42.26 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.94. The company's fifty day simple moving average is $40.90 and its 200-day simple moving average is $40.80. 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 announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the firm earned $0.57 EPS. Baker Hughes's revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. TD Securities cut their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays raised their price target on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley raised their price target on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Susquehanna raised their price target on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.47.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

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.