Baker Hughes Company $BKR Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd cut its position in shares of Baker Hughes Company (NASDAQ:BKR) by 21.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 92,938 shares of the company’s stock after selling 25,612 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Baker Hughes were worth $5,639,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EFG International AG acquired a new stake in Baker Hughes during the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. grew 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 worth $27,000 after acquiring an additional 468 shares during the period. Quarry LP purchased a new stake in Baker Hughes in the 4th quarter worth approximately $31,000. MV Capital Management Inc. acquired a new position in Baker Hughes in the 4th quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC acquired a new position in Baker Hughes in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler dropped their target price on Baker Hughes from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Susquehanna lowered their price target on Baker Hughes from $80.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Capital One Financial upped their price objective on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Finally, Barclays cut their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Baker Hughes Trading Down 1.4%

NASDAQ BKR opened at $55.15 on Tuesday. The firm has a market capitalization of $54.71 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. Baker Hughes Company has a one year low of $39.47 and a one year high of $70.41. The company’s 50 day moving average price is $60.66 and its 200 day moving average price is $59.69.

Baker Hughes (NASDAQ:BKR) last released 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 net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Baker Hughes Company will post 2.27 EPS 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is currently 29.39%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by 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.