Cardano Risk Management B.V. Trims Holdings in Baker Hughes Company $BKR

Cardano Risk Management B.V. reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,465,829 shares of the company’s stock after selling 483,979 shares during the quarter. Baker Hughes accounts for 2.3% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 12th largest position. Cardano Risk Management B.V. owned 0.45% of Baker Hughes worth $217,575,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its stake in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Baker Hughes during the 2nd quarter valued at about $36,000. Harbour Investments Inc. boosted its holdings in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after acquiring an additional 326 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the transaction, the insider owned 14,588 shares in the company, valued at $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $61.20 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $51.44 and a 200-day simple moving average of $48.44. The stock has a market cap of $60.48 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $62.27.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s dividend payout ratio is currently 35.38%.

Analysts Set New Price Targets

BKR has been the topic of several research reports. iA Financial set a $60.00 price target on shares of Baker Hughes in a research report on Tuesday, January 27th. UBS Group increased their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. HSBC boosted their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Evercore set a $54.00 price objective on Baker Hughes in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.78.

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.