TD Waterhouse Canada Inc. Has $94,000 Holdings in Baker Hughes Company $BKR

Key Points

• TD Waterhouse Canada cut its Baker Hughes position by 95.8% in the second quarter, selling 39,607 shares and retaining 1,750 shares valued at approximately $94,000. Institutional investors collectively own 92.06% of the company.
• Baker Hughes reported quarterly EPS of $0.64, exceeding estimates of $0.51, while revenue rose 2.4% year over year to $6.74 billion. The company also declared a quarterly dividend of $0.23, or $0.92 annualized.
• Analysts maintain a generally positive view, with 17 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $71.71 versus a recent share price of $59.06.

TD Waterhouse Canada Inc. lessened its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 95.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,750 shares of the company's stock after selling 39,607 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Baker Hughes were worth $94,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in Baker Hughes during the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its position in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after buying an additional 468 shares during the period. Quarry LP acquired a new stake in shares of Baker Hughes in the fourth quarter worth $31,000. MV Capital Management Inc. purchased a new position in shares of Baker Hughes during the fourth quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $59.06 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 1 year low of $43.92 and a 1 year high of $70.41. The business has a fifty day simple moving average of $60.65 and a 200 day simple moving average of $61.58. The firm has a market cap of $58.63 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.64 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's payout ratio is presently 29.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective on Baker Hughes from $77.00 to $78.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Barclays lowered their target price on Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 16th. Weiss Ratings downgraded Baker Hughes from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Susquehanna increased their price target on shares of Baker Hughes from $72.00 to $75.00 and gave the stock a "positive" rating in a research report on Thursday. Finally, Citigroup raised their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.71.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company's stock.

Baker Hughes Company Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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