Groupama Asset Managment Has $70.47 Million Position in Baker Hughes Company $BKR

Groupama Asset Managment lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,446,425 shares of the company’s stock after selling 251,715 shares during the period. Groupama Asset Managment owned approximately 0.15% of Baker Hughes worth $70,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BKR. Norges Bank acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $862,722,000. Capital International Investors bought a new position in Baker Hughes in the third quarter valued at approximately $729,670,000. First Trust Advisors LP boosted its holdings in shares of Baker Hughes by 76.0% in the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after buying an additional 3,203,942 shares during the period. Capital World Investors boosted its holdings in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the period. Finally, Sei Investments Co. increased its position in shares of Baker Hughes by 247.5% during the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after acquiring an additional 2,232,394 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 590,251 shares of company stock valued at $35,311,023 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BKR shares. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Barclays upped their target price on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Piper Sandler lifted their price target on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Capital One Financial boosted their price target on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Stock Performance

BKR opened at $57.48 on Thursday. The business’s 50-day simple moving average is $57.76 and its 200 day simple moving average is $51.04. 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 $56.80 billion, a PE ratio of 22.11, a PEG ratio of 1.54 and a beta of 0.83.

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 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 business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

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.