Artemis Investment Management LLP Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Artemis Investment Management LLP trimmed its stake in Baker Hughes (NASDAQ:BKR) by 63.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,130,158 shares of the company’s stock after selling 1,981,695 shares during the period. Artemis Investment Management LLP’s holdings in Baker Hughes were worth $37,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in BKR. Louisiana State Employees Retirement System purchased a new stake in shares of Baker Hughes in the 4th quarter worth approximately $4,813,000. Nordea Investment Management AB increased its stake in Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after purchasing an additional 1,283,296 shares in the last quarter. Cibc World Markets Corp increased its stake in Baker Hughes by 59.4% during the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after purchasing an additional 102,174 shares in the last quarter. Wellington Management Group LLP increased its stake in Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock valued at $31,983,000 after purchasing an additional 97,108 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Baker Hughes during the 4th quarter valued at approximately $13,672,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 2.2 %

Baker Hughes stock traded up $0.75 during mid-day trading on Friday, hitting $35.17. The company had a trading volume of 10,110,746 shares, compared to its average volume of 7,903,362. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 0.59 and a beta of 1.43. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $32.52 and a 200 day moving average of $32.01.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, sell-side analysts expect that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BKR. Jefferies Financial Group upped their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Wednesday, April 24th. UBS Group upped their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.27.

Baker Hughes Company 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.