Pictet Asset Management Holding SA Trims Holdings in Baker Hughes Company $BKR

Pictet Asset Management Holding SA decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 546,361 shares of the company’s stock after selling 9,936 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Baker Hughes worth $24,879,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BKR. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the period. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after purchasing an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $69.67 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a 50-day simple moving average of $61.92 and a 200-day simple moving average of $54.29. Baker Hughes Company has a 52 week low of $35.10 and a 52 week high of $70.41. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. On average, equities analysts predict that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. Baker Hughes’s payout ratio is 29.39%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BKR shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday. Argus lifted their price target on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Susquehanna boosted their price target on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a report on Monday. UBS Group raised their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Nineteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.09.

Insider Buying and Selling

In other news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 590,251 shares of company stock valued at $35,311,023 in the last quarter. Corporate insiders own 0.19% of the company’s stock.

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.