Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $731,000 Investment in Baker Hughes Company $BKR

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,044 shares of the company’s stock, valued at approximately $731,000.

A number of other hedge funds have also modified their holdings of BKR. Woodline Partners LP lifted its stake in Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Baker Hughes in the second quarter valued at $2,301,000. NewEdge Advisors LLC lifted its position in shares of Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in shares of Baker Hughes during the second quarter valued at $1,014,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.5%

Shares of BKR stock opened at $65.80 on Friday. The firm’s 50-day simple moving average is $62.66 and its 200-day simple moving average is $56.11. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41. The firm has a market cap of $65.28 billion, a P/E ratio of 21.02, a PEG ratio of 2.37 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

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

Insiders Place Their Bets

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 550,250 shares of company stock valued at $32,988,331. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on BKR shares. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Piper Sandler lifted their price target on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research report on Tuesday, January 27th. Zephirin Group upped their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada raised their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.41.

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.