Baker Hughes (NASDAQ:BKR) Holdings Cut by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 19.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,196 shares of the company’s stock after selling 20,387 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Baker Hughes were worth $3,032,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Baker Hughes by 8.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,822 shares of the company’s stock valued at $2,914,000 after purchasing an additional 6,496 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Baker Hughes by 225.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 50,160 shares of the company’s stock worth $1,764,000 after purchasing an additional 34,728 shares during the last quarter. Meiji Yasuda Life Insurance Co bought a new position in shares of Baker Hughes in the second quarter valued at $830,000. Moors & Cabot Inc. raised its position in shares of Baker Hughes by 20.1% during the second quarter. Moors & Cabot Inc. now owns 56,437 shares of the company’s stock worth $1,985,000 after purchasing an additional 9,456 shares during the period. Finally, Lmcg Investments LLC lifted its stake in Baker Hughes by 0.6% during the second quarter. Lmcg Investments LLC now owns 130,839 shares of the company’s stock valued at $4,602,000 after buying an additional 800 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Susquehanna increased their target price on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a report on Monday, July 29th. Morgan Stanley lowered their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler cut their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, UBS Group cut their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $43.19.

Baker Hughes Trading Up 4.9 %

Shares of NASDAQ:BKR opened at $36.36 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The stock’s 50-day moving average is $35.16 and its 200-day moving average is $33.61. The company has a market cap of $36.29 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.54 and a beta of 1.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) 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 firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.31%. Baker Hughes’s payout ratio is 46.93%.

About Baker Hughes

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.