Banque Cantonale Vaudoise Has $3.83 Million Stake in Baker Hughes Company $BKR

Banque Cantonale Vaudoise decreased its position in Baker Hughes Company (NASDAQ:BKR) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,611 shares of the company’s stock after selling 14,541 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Baker Hughes were worth $3,830,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fieldview Capital Management LLC bought a new stake in Baker Hughes in the third quarter worth approximately $1,404,000. Russell Investments Group Ltd. boosted its holdings in Baker Hughes by 9.7% in the third quarter. Russell Investments Group Ltd. now owns 2,074,630 shares of the company’s stock worth $101,168,000 after purchasing an additional 183,076 shares in the last quarter. Inceptionr LLC acquired a new position in Baker Hughes during the third quarter worth $438,000. Private Advisor Group LLC increased its position in Baker Hughes by 14.1% during the third quarter. Private Advisor Group LLC now owns 27,712 shares of the company’s stock worth $1,350,000 after buying an additional 3,428 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Baker Hughes by 3.0% during the third quarter. Parallel Advisors LLC now owns 11,545 shares of the company’s stock valued at $562,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.3%

Baker Hughes stock opened at $59.34 on Wednesday. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. 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 capitalization of $58.64 billion, a PE ratio of 22.82, a PEG ratio of 1.63 and a beta of 0.83. The business’s 50-day simple moving average is $56.69 and its 200-day simple moving average is $50.59.

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

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio is presently 35.38%.

Insider Activity at Baker Hughes

In other news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the completion of the sale, the chief accounting officer owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 312,594 shares of company stock valued at $18,986,302 in the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BKR. Evercore reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Baker Hughes in a research report on Wednesday, February 11th. Stifel Nicolaus increased their price objective on Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Jefferies Financial Group raised their price objective on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Saturday, January 31st. TD Cowen boosted their target price on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Thursday, January 15th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.61.

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.