Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 16,044 Baker Hughes Company $BKR

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Baker Hughes, buying 16,044 shares valued at about $731,000 in the fourth quarter.
• Insiders have been selling shares recently, including CEO Lorenzo Simonelli, who sold 272,594 shares for about $16.0 million; insiders have sold 550,250 shares over the last 90 days.
• Baker Hughes reported Q1 earnings above estimates with EPS of $0.58 versus $0.49 expected, and analysts remain broadly positive with an average rating of Moderate Buy and a price target of $69.41.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 16,044 shares of the company's stock, valued at approximately $731,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Activest Wealth Management raised its stake in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after purchasing an additional 497 shares during the last quarter. JFS Wealth Advisors LLC grew its position in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after buying an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after buying an additional 300 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in Baker Hughes in the 3rd quarter valued at $65,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company's stock worth $69,000 after buying an additional 270 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company's stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 550,250 shares of company stock worth $32,988,331. Insiders own 0.19% of the company's stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $65.80 on Friday. The firm's fifty day simple moving average is $62.66 and its 200-day simple moving average is $56.11. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The stock has a market cap of $65.28 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. Baker Hughes Company has a fifty-two week low of $35.83 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. Analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes's payout ratio is 29.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKR shares. Argus raised their target price on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. iA Financial set a $60.00 price target on shares of Baker Hughes in a report on Tuesday, January 27th. UBS Group raised their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Piper Sandler lifted their price objective on Baker Hughes from $64.00 to $72.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Finally, Barclays reiterated an "equal weight" rating and set a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.41.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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