Bank of New Hampshire Trims Holdings in Baker Hughes (NASDAQ:BKR)

Bank of New Hampshire decreased its holdings in Baker Hughes (NASDAQ:BKR) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,557 shares of the company’s stock after selling 317 shares during the period. Bank of New Hampshire’s holdings in Baker Hughes were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Norges Bank purchased a new position in shares of Baker Hughes during the fourth quarter valued at $551,555,000. Price T Rowe Associates Inc. MD increased its stake in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the period. Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes during the first quarter valued at $117,083,000. Goldman Sachs Group Inc. increased its stake in shares of Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after buying an additional 1,822,487 shares during the period. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of Baker Hughes by 348.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock valued at $79,452,000 after buying an additional 1,805,870 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 55,980 shares of the company’s 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 transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

Shares of BKR traded down $1.91 during trading hours on Friday, hitting $35.74. 8,698,273 shares of the stock were exchanged, compared to its average volume of 6,407,531. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. The stock’s 50-day moving average price is $34.17 and its two-hundred day moving average price is $32.47.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts expect that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BKR. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Friday, July 26th. Evercore ISI lifted their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Piper Sandler cut their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada lifted their target price 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, Wells Fargo & Company raised their price target on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Baker Hughes 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.