Shell Asset Management Co. Has $590,000 Stock Holdings in Baker Hughes (NASDAQ:BKR)

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. reduced its holdings in Baker Hughes (NASDAQ:BKR – Get Rating) by 22.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,980 shares of the company’s stock after selling 5,655 shares during the quarter. Shell Asset Management Co.’s holdings in Baker Hughes were worth $590,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in Baker Hughes during the 1st quarter worth approximately $321,000. D.A. Davidson & CO. acquired a new stake in Baker Hughes during the 1st quarter worth about $230,000. Synovus Financial Corp raised its position in shares of Baker Hughes by 31.7% in the 1st quarter. Synovus Financial Corp now owns 13,399 shares of the company’s stock worth $488,000 after acquiring an additional 3,226 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Baker Hughes by 197.9% in the 1st quarter. Cibc World Market Inc. now owns 36,783 shares of the company’s stock valued at $1,339,000 after purchasing an additional 24,434 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Baker Hughes by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,748,743 shares of the company’s stock valued at $172,934,000 after purchasing an additional 204,220 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of a number of research analyst reports. Evercore ISI increased their price target on Baker Hughes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. HSBC lifted their price target on shares of Baker Hughes from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, April 21st. Barclays boosted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. BMO Capital Markets boosted their price objective on Baker Hughes from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, Susquehanna raised their price objective on Baker Hughes from $35.00 to $38.00 and gave the company a “positive” rating in a research note on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.63.

Insider Transactions at Baker Hughes

In other Baker Hughes news, SVP Kurt Camilleri sold 12,293 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $28.53, for a total transaction of $350,719.29. Following the sale, the senior vice president now owns 1,000 shares in the company, valued at $28,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Baker Hughes Stock Down 0.9 %

BKR opened at $27.22 on Friday. Baker Hughes has a 12 month low of $20.42 and a 12 month high of $38.65. The company has a market cap of $27.56 billion, a PE ratio of -247.45 and a beta of 1.46. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $29.06 and a 200 day moving average of $29.38.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Baker Hughes had a positive return on equity of 7.13% and a negative net margin of 0.44%. The company had revenue of $5.72 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 1.52 EPS for the current year.

About Baker Hughes

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.