In the volatile world of stocks and shares, it can often be difficult to keep track of who owns what and why. However, for those interested in the comings and goings of big investors, a recent filing with the Securities and Exchange Commission (SEC) by Natixis makes for interesting reading. The French asset management company has just reduced its position in Baker Hughes by 23.4% during Q4 2016.
Natixis now holds 258,349 shares (worth $7,629,000 at last check) in Baker Hughes after selling 78,939 shares during the fourth quarter. The company specializes in the production and marketing of oil-field services, which given the current climate in the industry may discourage some investors. However, there are still several who remain very positive when it comes to this particular stock.
In April, Baker Hughes announced strong earnings results for Q1 2017 which exceeded many analysts’ expectations. With an earnings per share (EPS) of $0.28 – beating estimates by $0.02 – coupled with revenue worth $5.72 billion for the quarter (again outstripping analyst forecasts), it looks like Baker Hughes remains a popular choice on Wall Street.
Many analysts have jumped on board with positive ratings on this stock over recent weeks and months; including upgrades from ‘neutral’ to ‘overweight’ from JPMorgan Chase & Co., an ‘overweight’ rating from Capital One Financial Corp with a target price of $38 per share and a consensus rating of “Moderate Buy” according to data from Bloomberg.
So what does all this mean? While any investment carries an element of risk – particularly within a sector such as oil services that is subject to unpredictable external influencers such as political events – there are still plenty who view investment funds like Natixis reducing their positions within particular stocks as simply part of normal market fluctuations.
With both global demand for oil and the price of crude expected to rise significantly over coming months, it may be worth keeping an eye out for companies such as Baker Hughes as they could be in for a steady period of growth. Whether that growth is enough to satisfy even the most cautious investor remains to be seen – but recent developments certainly suggest that Baker Hughes looks like a stock on the move.
Baker Hughes Company
Updated on: 03/03/2024
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
12:00 AM (UTC)
Date:01 February, 2024
|Analyst / firm
Institutional Investors Take Notice: Financial Heavyweights Buy and Sell Baker Hughes Shares Amidst Mixed Signals
Baker Hughes, one of the world’s largest oil field services companies, continues to generate interest among institutional investors. Recent data shows that a number of financial heavyweights have now bought and sold shares of BKR. This includes Jefferies Financial Group Inc., Portland Hill Asset Management Ltd, and Harel Insurance Investments & Financial Services Ltd.
The figures might raise a few eyebrows. Some experts may wonder why so many investors are showing such keen interest in a company that is barely making any profits right now. However, analysts seem more optimistic than ever about Baker Hughes’ future prospects.
Recent ratings suggest the company may be a “Moderate Buy” at present, with a consensus target price of $35.75 per share. Furthermore, HSBC upped its own target price on BKR from $39 to $40 earlier this year.
One possible explanation for the increased attention is the company’s recent announcement concerning its quarterly dividend payment. The dividend represents an annual yield of 2.49% per share; something that could make Baker Hughes more attractive to long-term investors.
Of course, not everyone is convinced by the bullish sentiment surrounding Baker Hughes at present. The payout ratio for the firm currently stands at -690%.
In other news, SVP James E. Apostolides sold 3,195 shares of Baker Hughes stock in June 2017; all transacted at around an average price of $29.93 per share.
Overall, it remains to be seen whether most traders will end up buying or selling into Baker Hughes over upcoming quarters. Looking ahead though there is cause for optimism when considering this oilfield service giant’s numerous holdings and projections going forward into next year- dependent entirely on market vicissitudes and fluctuating offshore/land-based drilling outcome results across various petroleum vistas worldwide evidently- action awaits!