Groupama Asset Managment Boosts Stake in Baker Hughes Company $BKR

Groupama Asset Managment lifted its position in Baker Hughes Company (NASDAQ:BKR) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,921,008 shares of the company’s stock after purchasing an additional 474,583 shares during the quarter. Baker Hughes makes up 1.3% of Groupama Asset Managment’s investment portfolio, making the stock its 20th biggest holding. Groupama Asset Managment owned about 0.19% of Baker Hughes worth $87,483,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $251,000. Sonoma Allocations LLC grew its position in shares of Baker Hughes by 72.0% during the fourth quarter. Sonoma Allocations LLC now owns 8,063 shares of the company’s stock worth $367,000 after acquiring an additional 3,376 shares during the last quarter. MV Capital Management Inc. purchased a new position in shares of Baker Hughes during the fourth quarter worth approximately $34,000. Dean Capital Management increased its holdings in shares of Baker Hughes by 3.2% in the 4th quarter. Dean Capital Management now owns 45,880 shares of the company’s stock valued at $2,089,000 after acquiring an additional 1,423 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Baker Hughes by 8.4% in the 4th quarter. Invesco Ltd. now owns 12,698,549 shares of the company’s stock valued at $578,292,000 after acquiring an additional 982,179 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were 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 owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the completion of the transaction, the chief executive officer owned 784,944 shares of the company’s stock, valued at $49,734,051.84. This represents a 18.77% decrease in their position. 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. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Down 2.8%

Shares of Baker Hughes stock opened at $58.41 on Friday. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41. The company has a market cap of $57.95 billion, a P/E ratio of 18.66, a PEG ratio of 2.14 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The firm has a fifty day moving average of $64.11 and a two-hundred day moving average of $58.25.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s dividend payout ratio is presently 29.39%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent research reports. UBS Group increased their price target 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. Citigroup reduced their target price on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a report on Sunday, April 26th. Finally, Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $69.14.

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.