Guinness Atkinson Asset Management Inc Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Guinness Atkinson Asset Management Inc reduced its position in Baker Hughes (NASDAQ:BKR) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,850 shares of the company’s stock after selling 355 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Baker Hughes were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Baker Hughes by 543.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,130 shares of the company’s stock worth $402,000 after acquiring an additional 9,400 shares during the period. Wedmont Private Capital grew its stake in Baker Hughes by 7.5% in the 3rd quarter. Wedmont Private Capital now owns 18,136 shares of the company’s stock worth $688,000 after acquiring an additional 1,266 shares during the period. CWM LLC grew its stake in Baker Hughes by 56.4% in the 3rd quarter. CWM LLC now owns 48,422 shares of the company’s stock worth $1,750,000 after acquiring an additional 17,467 shares during the period. Strategic Wealth Partners Ltd. grew its stake in Baker Hughes by 35.9% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 205,627 shares of the company’s stock worth $7,433,000 after acquiring an additional 54,312 shares during the period. Finally, Artemis Investment Management LLP grew its stake in Baker Hughes by 52.5% in the 3rd quarter. Artemis Investment Management LLP now owns 814,174 shares of the company’s stock worth $29,432,000 after acquiring an additional 280,402 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.2 %

BKR stock traded up $0.09 during trading on Friday, reaching $37.70. The stock had a trading volume of 4,836,008 shares, compared to its average volume of 7,297,177. The firm has a fifty day moving average price of $35.30 and a 200 day moving average price of $34.17. The company has a market capitalization of $37.45 billion, a P/E ratio of 19.14, a PEG ratio of 0.61 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year 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.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is currently 42.64%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research analyst reports. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Citigroup decreased their price target on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.65.

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.