MUFG Securities EMEA plc Raises Holdings in Baker Hughes Company $BKR

Key Points

• MUFG Securities EMEA plc sharply increased its Baker Hughes stake by 283.8% in the fourth quarter, ending with 2.38 million shares valued at about $108.2 million. The position now makes up 1.3% of its portfolio and is its 16th-largest holding.
• Insider selling was notable, led by CEO Lorenzo Simonelli, who sold 272,594 shares for about $16.0 million. Across the last 90 days, insiders sold 550,250 shares worth roughly $33.0 million.
• Baker Hughes reported better-than-expected quarterly earnings of $0.58 per share, though revenue of $6.59 billion slightly missed estimates. The company also paid a quarterly dividend of $0.23 per share and has a consensus analyst rating of Moderate Buy with a $69.41 price target.

MUFG Securities EMEA plc boosted its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 283.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,375,463 shares of the company's stock after purchasing an additional 1,756,593 shares during the period. Baker Hughes comprises 1.3% of MUFG Securities EMEA plc's investment portfolio, making the stock its 16th biggest position. MUFG Securities EMEA plc owned approximately 0.24% of Baker Hughes worth $108,179,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its stake in Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock valued at $27,000 after purchasing an additional 468 shares in the last quarter. JFS Wealth Advisors LLC increased its stake 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 purchasing an additional 252 shares in 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 purchasing an additional 300 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Baker Hughes by 23.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company's stock valued at $69,000 after purchasing an additional 270 shares in the last quarter. Finally, Hilltop National Bank increased its stake in Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company's stock valued at $65,000 after purchasing an additional 300 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

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

Baker Hughes Price Performance

BKR stock opened at $63.88 on Friday. Baker Hughes Company has a 52-week low of $36.53 and a 52-week high of $70.41. The stock's fifty day simple moving average is $63.69 and its 200-day simple moving average is $56.79. 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 capitalization of $63.37 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97.

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

Baker Hughes Dividend Announcement

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

Analyst Ratings Changes

BKR has been the subject of several recent research reports. Royal Bank Of Canada raised their price target on Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Evercore reissued an "outperform" rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday, April 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. Citigroup raised their price target on Baker Hughes from $69.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded Baker Hughes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus 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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