Groupama Asset Managment Sells 251,715 Shares of Baker Hughes Company $BKR

Groupama Asset Managment lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 14.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,446,425 shares of the company’s stock after selling 251,715 shares during the quarter. Groupama Asset Managment’s holdings in Baker Hughes were worth $70,470,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BKR. Vanguard Group Inc. boosted its stake in shares of Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares during the period. Capital World Investors raised its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Capital Research Global Investors raised its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after acquiring an additional 1,728,016 shares during the period. Norges Bank acquired a new stake in Baker Hughes during the 2nd quarter valued at $862,722,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Baker Hughes by 3.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after purchasing an additional 638,640 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on BKR. Evercore reiterated an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a report on Wednesday, February 11th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Saturday, January 31st. Stifel Nicolaus upped their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. TD Cowen increased their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Capital One Financial boosted their price objective on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Trading Up 0.8%

BKR stock opened at $57.48 on Thursday. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. The company has a market capitalization of $56.80 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The company’s 50-day simple moving average is $57.76 and its 200 day simple moving average is $51.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is 35.38%.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction that occurred 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 sale, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is owned by corporate insiders.

Baker Hughes 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.