Rheos Capital Works Inc. Trims Stake in Baker Hughes Company $BKR

Rheos Capital Works Inc. cut its stake in Baker Hughes Company (NASDAQ:BKR) by 25.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290,000 shares of the company’s stock after selling 100,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Baker Hughes were worth $14,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brandywine Global Investment Management LLC lifted its holdings in Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Baker Hughes in the third quarter worth about $1,920,000. Schroder Investment Management Group boosted its position in Baker Hughes by 0.6% during the second quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock worth $55,607,000 after acquiring an additional 8,994 shares during the last quarter. Empowered Funds LLC boosted its position in Baker Hughes by 422.3% during the second quarter. Empowered Funds LLC now owns 289,951 shares of the company’s stock worth $11,117,000 after acquiring an additional 234,440 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Baker Hughes by 8.7% during the 2nd quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock valued at $69,026,000 after acquiring an additional 144,381 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $49.38 on Wednesday. The firm has a market cap of $48.73 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $51.12. The business’s fifty day simple moving average is $47.64 and its 200-day simple moving average is $45.48.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Equities 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 declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BKR shares. Citigroup raised their target price on shares of Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Zephirin Group boosted their price objective on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 30th. Finally, HSBC boosted their price target on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $53.92.

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.