Hsbc Holdings PLC Sells 144,983 Shares of Baker Hughes (NYSE:BKR)

Hsbc Holdings PLC decreased its position in Baker Hughes (NYSE:BKRGet Rating) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,654,504 shares of the company’s stock after selling 144,983 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Baker Hughes worth $60,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $27,000. DB Wealth Management Group LLC purchased a new stake in Baker Hughes during the 1st quarter valued at about $34,000. Covestor Ltd boosted its stake in shares of Baker Hughes by 104.7% during the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the period. Krane Funds Advisors LLC bought a new stake in Baker Hughes during the 1st quarter valued at $50,000. Finally, Benjamin Edwards Inc. boosted its position in Baker Hughes by 36.2% during the 1st quarter. Benjamin Edwards Inc. now owns 1,464 shares of the company’s stock valued at $53,000 after buying an additional 389 shares during the period. 96.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Michael R. Dumais purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were bought at an average price of $24.39 per share, for a total transaction of $243,900.00. Following the purchase, the director now directly owns 24,977 shares in the company, valued at approximately $609,189.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKR. Susquehanna Bancshares lowered their price objective on shares of Baker Hughes from $39.00 to $35.00 and set a “positive” rating for the company in a research note on Thursday, July 21st. Morgan Stanley lowered their price target on Baker Hughes from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. The Goldman Sachs Group dropped their price objective on Baker Hughes from $41.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Barclays reduced their target price on Baker Hughes from $46.00 to $44.00 in a research note on Thursday, July 21st. Finally, Wells Fargo & Company dropped their price target on Baker Hughes from $43.00 to $36.00 in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

Baker Hughes Trading Up 5.7 %

NYSE:BKR opened at $25.25 on Monday. Baker Hughes has a one year low of $22.30 and a one year high of $39.78. The company’s 50-day simple moving average is $25.69 and its 200 day simple moving average is $31.13. The firm has a market capitalization of $25.72 billion, a P/E ratio of -58.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.51 and a quick ratio of 1.08.

Baker Hughes (NYSE:BKRGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The company had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts forecast that Baker Hughes will post 0.94 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Tuesday, August 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.85%. Baker Hughes’s dividend payout ratio is currently -167.44%.

Baker Hughes Company Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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