Cardano Risk Management B.V. Sells 610,168 Shares of Baker Hughes Company $BKR

Cardano Risk Management B.V. reduced its position in Baker Hughes Company (NASDAQ:BKR) by 16.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,141,884 shares of the company’s stock after selling 610,168 shares during the period. Baker Hughes comprises approximately 1.3% of Cardano Risk Management B.V.’s holdings, making the stock its 22nd largest position. Cardano Risk Management B.V.’s holdings in Baker Hughes were worth $174,375,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BKR. EFG International AG purchased a new position in shares of Baker Hughes in the fourth quarter worth $26,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares in the last quarter. Quarry LP purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $31,000. MV Capital Management Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Baker Hughes in the 4th quarter worth about $35,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 1.9%

Baker Hughes stock opened at $61.55 on Friday. Baker Hughes Company has a one year low of $41.96 and a one year high of $70.41. The stock has a fifty day moving average of $59.03 and a 200 day moving average of $60.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The stock has a market cap of $61.10 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion for 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%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts predict that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

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

Analyst Upgrades and Downgrades

BKR has been the subject of a number of recent analyst reports. 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. Barclays dropped their price target on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 16th. UBS Group set a $51.00 price target on shares of Baker Hughes in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Finally, Evercore restated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.95.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer directly 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 that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents 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. In the last three months, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is currently owned by insiders.

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.