Groupama Asset Managment Buys 11,297 Shares of Baker Hughes Company $BKR

Groupama Asset Managment raised its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,932,305 shares of the company’s stock after buying an additional 11,297 shares during the quarter. Baker Hughes comprises 1.7% of Groupama Asset Managment’s portfolio, making the stock its 17th biggest position. Groupama Asset Managment’s holdings in Baker Hughes were worth $117,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new position in Baker Hughes during the 1st quarter worth approximately $356,000. BankChampaign National Association bought a new stake in Baker Hughes in the first quarter valued at approximately $989,000. Groupe la Francaise raised its holdings in Baker Hughes by 10.0% in the first quarter. Groupe la Francaise now owns 73,059 shares of the company’s stock worth $4,460,000 after purchasing an additional 6,655 shares during the period. Liontrust Investment Partners LLP acquired a new stake in Baker Hughes in the first quarter worth $10,620,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Baker Hughes during the first quarter worth $445,000. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BKR shares. Evercore reissued an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. TD Cowen lifted their target price on Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. UBS Group set a $51.00 price objective on Baker Hughes in a report on Tuesday. Finally, HSBC increased their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Baker Hughes Trading Up 1.0%

Shares of NASDAQ:BKR opened at $60.49 on Friday. The company’s 50-day moving average price is $59.36 and its two-hundred day moving average price is $60.25. Baker Hughes Company has a one year low of $41.96 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.77. The stock has a market capitalization of $60.05 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. On average, equities analysts forecast that Baker Hughes Company will post 2.46 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is currently 29.68%.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The transaction 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, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction 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 $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 367,910 shares of company stock valued at $22,420,797. 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.