Hsbc Holdings PLC Decreases Stock Position in Baker Hughes (NASDAQ:BKR)

Hsbc Holdings PLC lessened its position in Baker Hughes (NASDAQ:BKR) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,288,744 shares of the company’s stock after selling 143,891 shares during the quarter. Hsbc Holdings PLC owned about 0.33% of Baker Hughes worth $115,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management lifted its position in shares of Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the first quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus increased their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Morgan Stanley cut their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.19.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.2 %

Shares of NASDAQ BKR opened at $34.67 on Thursday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $35.12 and a 200-day simple moving average of $33.59. The stock has a market capitalization of $34.60 billion, a PE ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.42%. Baker Hughes’s payout ratio is presently 46.93%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.