Natixis Advisors LLC Grows Stake in Baker Hughes Company (NASDAQ:BKR)

Key Points

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Natixis Advisors LLC lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,829,979 shares of the company's stock after acquiring an additional 101,529 shares during the quarter. Natixis Advisors LLC owned 0.18% of Baker Hughes worth $80,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wayfinding Financial LLC purchased a new position in Baker Hughes during the first quarter worth about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $30,000. Golden State Wealth Management LLC lifted its stake in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after acquiring an additional 604 shares during the last quarter. 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 valued at $33,000 after purchasing an additional 320 shares during the period. Finally, Spire Wealth Management increased its holdings in Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BKR shares. BMO Capital Markets restated an "outperform" rating and issued a $53.00 price target (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday. UBS Group restated a "neutral" rating and issued a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a research note on Wednesday. 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 research note on Thursday, April 24th. The Goldman Sachs Group cut their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada lowered their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $51.47.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction dated 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 transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $1.54 during trading on Friday, hitting $43.51. 7,323,705 shares of the company's stock were exchanged, compared to its average volume of 8,645,018. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a 52-week low of $32.25 and a 52-week high of $49.40. The business's 50-day simple moving average is $39.71 and its 200 day simple moving average is $41.01. The company has a market cap of $42.90 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 5.35 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 for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. As a group, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

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

About Baker Hughes

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.