Aberdeen Group plc Decreases Position in Baker Hughes Company $BKR

Aberdeen Group plc reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,642,222 shares of the company’s stock after selling 202,761 shares during the period. Aberdeen Group plc owned approximately 0.17% of Baker Hughes worth $80,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Brandywine Global Investment Management LLC grew its stake in Baker Hughes by 8.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after acquiring an additional 49,108 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Baker Hughes in the 3rd quarter worth approximately $1,920,000. Cibc World Market Inc. boosted its holdings in shares of Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Baker Hughes by 23.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock valued at $22,334,000 after purchasing an additional 88,536 shares in the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Baker Hughes in the third quarter valued at approximately $3,434,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $61.20 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The firm has a market cap of $60.48 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. The firm’s 50 day moving average price is $51.17 and its 200-day moving average price is $48.33. Baker Hughes Company has a one year low of $33.60 and a one year high of $62.27.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of analyst reports. HSBC lifted their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Capital One Financial lifted their price target on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. TD Cowen boosted their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Evercore ISI reissued an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a report on Wednesday. Finally, Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $58.78.

Insider Activity at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider directly owned 14,588 shares in the company, valued at $862,296.68. This represents a 56.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the sale, the chief accounting officer owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,001 shares of company stock worth $2,322,692 in the last three months. 0.27% of the stock is owned by company 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.