Aventail Capital Group LP Sells 372,428 Shares of Baker Hughes Company $BKR

Aventail Capital Group LP cut its position in Baker Hughes Company (NASDAQ:BKR) by 79.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,553 shares of the company’s stock after selling 372,428 shares during the quarter. Aventail Capital Group LP’s holdings in Baker Hughes were worth $4,260,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Alight Capital Management LP acquired a new stake in Baker Hughes in the 4th quarter worth approximately $4,554,000. Guggenheim Capital LLC boosted its stake in Baker Hughes by 1.9% in the 4th quarter. Guggenheim Capital LLC now owns 304,448 shares of the company’s stock worth $13,865,000 after purchasing an additional 5,782 shares in the last quarter. Caisse de depot et placement du Quebec boosted its stake in Baker Hughes by 67.3% in the 4th quarter. Caisse de depot et placement du Quebec now owns 3,005,647 shares of the company’s stock worth $136,877,000 after purchasing an additional 1,208,999 shares in the last quarter. DV Equities LLC acquired a new stake in Baker Hughes in the 4th quarter worth approximately $62,000. Finally, AQR Capital Management LLC boosted its stake in Baker Hughes by 3.1% in the 4th quarter. AQR Capital Management LLC now owns 1,279,732 shares of the company’s stock worth $58,279,000 after purchasing an additional 38,409 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the transaction, the chief executive officer directly owned 784,944 shares of the company’s stock, valued at approximately $49,734,051.84. This represents a 18.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Baker Hughes Trading Down 2.4%

Shares of NASDAQ:BKR opened at $60.07 on Thursday. Baker Hughes Company has a 1 year low of $37.38 and a 1 year high of $70.41. The firm has a market capitalization of $59.59 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.19 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The business’s 50 day moving average price is $64.17 and its 200-day moving average price is $58.19.

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

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Analysts Set New Price Targets

A number of research firms recently commented on BKR. UBS Group lifted their target price on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Argus upped their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Baker Hughes in a report on Sunday, April 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

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.