Victory Capital Management Inc. Has $19.14 Million Stake in Baker Hughes (NYSE:BKR)

Victory Capital Management Inc. boosted its position in Baker Hughes (NYSE:BKRGet Rating) by 34.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 576,647 shares of the company’s stock after buying an additional 148,033 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Baker Hughes worth $19,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. lifted its holdings in Baker Hughes by 36.2% in the first quarter. Benjamin Edwards Inc. now owns 1,464 shares of the company’s stock valued at $53,000 after buying an additional 389 shares during the period. Shell Asset Management Co. lifted its holdings in Baker Hughes by 1.5% in the first quarter. Shell Asset Management Co. now owns 22,464 shares of the company’s stock valued at $818,000 after buying an additional 328 shares during the period. abrdn plc lifted its holdings in Baker Hughes by 15.8% in the first quarter. abrdn plc now owns 8,324,561 shares of the company’s stock valued at $308,051,000 after buying an additional 1,134,434 shares during the period. Arizona State Retirement System raised its holdings in shares of Baker Hughes by 2.0% during the first quarter. Arizona State Retirement System now owns 230,054 shares of the company’s stock valued at $8,376,000 after purchasing an additional 4,487 shares during the period. Finally, Metis Global Partners LLC acquired a new position in shares of Baker Hughes during the first quarter valued at about $494,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

Baker Hughes Stock Down 6.0 %

Baker Hughes stock opened at $23.71 on Friday. Baker Hughes has a twelve month low of $19.84 and a twelve month high of $39.78. The firm has a 50 day moving average price of $29.79 and a 200-day moving average price of $31.56. The company has a market capitalization of $24.15 billion, a P/E ratio of -55.14 and a beta of 1.42. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.44.

Baker Hughes (NYSE:BKRGet Rating) last released its earnings results on Wednesday, July 20th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.34 billion. Baker Hughes had a negative net margin of 2.27% and a positive return on equity of 3.82%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities analysts predict that Baker Hughes will post 0.94 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Tuesday, August 9th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, August 8th. Baker Hughes’s dividend payout ratio (DPR) is presently -167.44%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Baker Hughes from $41.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $34.00 to $41.00 in a report on Friday, April 8th. Morgan Stanley dropped their price objective on shares of Baker Hughes from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Barclays dropped their price objective on shares of Baker Hughes from $46.00 to $44.00 in a report on Thursday, July 21st. Finally, Seaport Res Ptn restated a “buy” rating on shares of Baker Hughes in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.86.

Insider Buying and Selling

In other news, Director Michael R. Dumais bought 10,000 shares of the stock in a transaction on Thursday, July 21st. The shares were acquired at an average cost of $24.39 per share, for a total transaction of $243,900.00. Following the purchase, the director now directly owns 24,977 shares of the company’s stock, valued at approximately $609,189.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Michael R. Dumais bought 10,000 shares of the stock in a transaction on Thursday, July 21st. The shares were acquired at an average cost of $24.39 per share, for a total transaction of $243,900.00. Following the purchase, the director now directly owns 24,977 shares of the company’s stock, valued at approximately $609,189.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 103,000 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $35.00, for a total transaction of $3,605,000.00. Following the completion of the sale, the chief executive officer now owns 575,759 shares in the company, valued at $20,151,565. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Baker Hughes Company Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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