Fulcrum Asset Management LLP Sells 21,915 Shares of Baker Hughes Company $BKR

Fulcrum Asset Management LLP decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 16.1% in the fourth quarter, HoldingsChannel reports. The firm owned 113,786 shares of the company’s stock after selling 21,915 shares during the quarter. Baker Hughes makes up 0.8% of Fulcrum Asset Management LLP’s investment portfolio, making the stock its 23rd biggest position. Fulcrum Asset Management LLP’s holdings in Baker Hughes were worth $5,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Capital International Investors bought a new position in Baker Hughes during the 3rd quarter valued at approximately $729,670,000. Bessemer Group Inc. grew its holdings in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after acquiring an additional 3,464,637 shares during the period. Capital World Investors grew its holdings in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $119,078,000. Finally, First Trust Advisors LP grew its holdings in shares of Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock worth $454,334,000 after acquiring an additional 1,906,384 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the topic of a number of research analyst reports. Johnson Rice initiated coverage on Baker Hughes in a report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Stifel Nicolaus upped their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $76.00 target price on shares of Baker Hughes in a report on Monday, April 27th. Royal Bank Of Canada upped their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, Zephirin Group upped their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.18.

Baker Hughes Stock Performance

Shares of BKR opened at $64.61 on Friday. The business’s fifty day simple moving average is $62.09 and its two-hundred day simple moving average is $55.48. 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 Company has a 12 month low of $35.83 and a 12 month high of $70.41. The company has a market cap of $64.10 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.38 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating 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 was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider directly owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 550,250 shares of company stock worth $32,988,331 over the last three months. Insiders own 0.19% of the company’s stock.

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.