Baker Hughes Company $BKR Holdings Trimmed by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lowered its position in shares of Baker Hughes Company (NASDAQ:BKR) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,001 shares of the company’s stock after selling 45,499 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Baker Hughes were worth $1,412,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares in the last quarter. State Street Corp boosted its stake in Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after buying an additional 937,614 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in Baker Hughes by 1,005.1% during the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after buying an additional 44,887,481 shares in the last quarter. Capital World Investors boosted its stake in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after buying an additional 204,534 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BKR shares. Argus raised their target price on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Barclays reaffirmed an “equal weight” rating and set a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Finally, Johnson Rice began coverage on Baker Hughes in a research report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target for the company. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes Trading Down 1.5%

NASDAQ:BKR opened at $61.52 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 1-year low of $37.38 and a 1-year high of $70.41. The firm has a market capitalization of $61.03 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93. The stock has a fifty day simple moving average of $64.18 and a 200 day simple moving average of $58.12.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company posted $0.51 EPS. Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Insider Activity

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the sale, the chief executive officer directly owned 784,944 shares of the company’s stock, valued at approximately $49,734,051.84. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

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.