Baker Hughes Company $BKR Stake Raised by Czech National Bank

Czech National Bank raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 4.9% in the second quarter, Holdings Channel.com reports. The fund owned 282,381 shares of the company’s stock after acquiring an additional 13,239 shares during the period. Czech National Bank’s holdings in Baker Hughes were worth $15,672,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BKR. Bleakley Financial Group LLC grew its stake in shares of Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after purchasing an additional 163 shares during the last quarter. Resolute Wealth Strategies LLC lifted its stake in Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after purchasing an additional 172 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after buying an additional 179 shares in the last quarter. Krilogy Financial LLC boosted its holdings in Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after buying an additional 180 shares in the last quarter. Finally, 3Chopt Investment Partners LLC boosted its holdings in Baker Hughes by 0.5% during the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after buying an additional 203 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Baker Hughes stock opened at $61.55 on Friday. Baker Hughes Company has a fifty-two week low of $41.96 and a fifty-two week high of $70.41. The firm’s 50 day simple moving average is $59.03 and its 200-day simple moving average is $60.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The company has a market cap of $61.10 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio is presently 29.68%.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% 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. Insiders sold 367,910 shares of company stock valued at $22,420,797 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. UBS Group set a $51.00 price objective on Baker Hughes in a research note on Tuesday, July 28th. Jefferies Financial Group restated a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Citigroup boosted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Barclays reduced their target price on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.95.

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.