Baker Hughes Company (NASDAQ:BKR) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Baker Hughes by 15.5%, holding 79,278 shares worth approximately $3.48 million after selling 14,507 shares in the first quarter.
• Baker Hughes reported earnings per share (EPS) of $0.63 for the last quarter, exceeding estimates by $0.08, while also announcing a quarterly dividend of $0.23.
• Institutional investors and hedge funds own 92.06% of Baker Hughes shares, demonstrating strong institutional interest in the company.

Mizuho Securities USA LLC lessened its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 79,278 shares of the company's stock after selling 14,507 shares during the period. Mizuho Securities USA LLC's holdings in Baker Hughes were worth $3,484,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BKR. Prosperity Consulting Group LLC boosted its stake in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock valued at $463,000 after buying an additional 278 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Baker Hughes by 2.2% in the first quarter. Greenleaf Trust now owns 13,852 shares of the company's stock worth $609,000 after buying an additional 293 shares during the period. Commerce Bank raised its holdings in shares of Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock worth $1,275,000 after buying an additional 300 shares during the period. TCTC Holdings LLC increased its holdings in Baker Hughes by 7.7% during the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock worth $185,000 after purchasing an additional 301 shares during the period. Finally, Grove Bank & Trust increased its holdings in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the period. Institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. The Goldman Sachs Group reduced their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada cut their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

Baker Hughes Stock Performance

BKR traded up $0.34 on Wednesday, reaching $42.85. 5,269,440 shares of the stock were exchanged, compared to its average volume of 8,581,709. The company's 50-day moving average price is $40.57 and its 200 day moving average price is $40.83. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market capitalization of $42.24 billion, a PE ratio of 16.94, a PEG ratio of 1.94 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.91 billion during 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 revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company'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 value of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, 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 is available at this link. Company 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.