ABN Amro Investment Solutions Acquires 27,862 Shares of Baker Hughes Company $BKR

ABN Amro Investment Solutions grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,845 shares of the company’s stock after buying an additional 27,862 shares during the period. ABN Amro Investment Solutions’ holdings in Baker Hughes were worth $12,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its position in shares of Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after purchasing an additional 163 shares during the period. Resolute Wealth Strategies LLC lifted its holdings in Baker Hughes by 2.7% in the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after buying an additional 172 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC boosted its position in Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after acquiring an additional 180 shares in the last quarter. Finally, 3Chopt Investment Partners LLC boosted its position in Baker Hughes by 0.5% during the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after acquiring an additional 203 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BKR shares. Piper Sandler reduced their target price on Baker Hughes from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. UBS Group raised their target price on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Evercore restated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday, April 27th. Royal Bank Of Canada upped their price target on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, TD Cowen increased their price objective on Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were 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 $41,102,232.92. The trade was a 20.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Up 0.4%

Shares of NASDAQ:BKR opened at $56.60 on Thursday. The stock has a fifty day simple moving average of $60.31 and a two-hundred day simple moving average of $59.85. The stock has a market capitalization of $56.15 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.35 and a beta of 0.96. Baker Hughes Company has a 12-month low of $41.15 and a 12-month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. On average, research analysts anticipate that Baker Hughes Company will post 2.26 earnings per share for the current fiscal year.

About Baker Hughes

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.