Natixis Trims Stock Holdings in Baker Hughes (NASDAQ:BKR)

Natixis decreased its position in Baker Hughes (NASDAQ:BKR) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,368 shares of the company’s stock after selling 15,718 shares during the period. Natixis’ holdings in Baker Hughes were worth $2,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Baker Hughes during the 4th quarter valued at about $4,813,000. Twin Tree Management LP raised its position in shares of Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after buying an additional 219,060 shares during the period. Cibc World Markets Corp increased its position in shares of Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after acquiring an additional 102,174 shares during the period. Caxton Associates LP purchased a new stake in shares of Baker Hughes during the fourth quarter worth $13,672,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Baker Hughes by 101.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock worth $81,484,000 after purchasing an additional 1,200,407 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the 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 completion of the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $1.59 during trading on Friday, reaching $37.17. The company had a trading volume of 1,888,744 shares, compared to its average volume of 7,495,625. The firm’s fifty day moving average is $33.55 and its 200 day moving average is $32.20. The firm has a market capitalization of $37.10 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Baker Hughes will post 2.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Bank of America reduced their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.92.

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.