BlackRock Trims Baker Hughes Stake to 5.0%
Ticker: BKR · Form: SC 13G/A · Filed: Feb 7, 2024 · CIK: 1701605
| Field | Detail |
|---|---|
| Company | Baker Hughes CO (BKR) |
| Form Type | SC 13G/A |
| Filed Date | Feb 7, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investing, portfolio-rebalancing
TL;DR
**BlackRock cut its Baker Hughes stake to 5.0% as of Jan 31.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on February 7, 2024, disclosing its ownership of 48,103,400 shares of Class A Common Stock in Baker Hughes Co. as of January 31, 2024. This represents a 5.0% stake in the oil and gas equipment company. This filing indicates a slight decrease in BlackRock's reported ownership from previous filings, which could signal a minor shift in institutional confidence or portfolio rebalancing, potentially impacting investor sentiment for Baker Hughes stock.
Why It Matters
This filing shows a major institutional investor, BlackRock, has slightly reduced its stake in Baker Hughes, which could be interpreted as a minor bearish signal or simply portfolio rebalancing.
Risk Assessment
Risk Level: low — A minor change in institutional ownership by a passive investor like BlackRock typically has a low direct impact on a company's fundamentals.
Analyst Insight
Investors should note BlackRock's slight reduction in its Baker Hughes stake, but given BlackRock's role as a passive asset manager, this change is likely part of routine portfolio rebalancing rather than a strong directional signal. It warrants monitoring for further institutional shifts but doesn't necessitate immediate drastic action.
Key Numbers
- 48,103,400 — Shares Owned (BlackRock's total beneficial ownership of Baker Hughes Class A Common Stock)
- 5.0% — Ownership Percentage (BlackRock's percentage of Baker Hughes Class A Common Stock)
- January 31, 2024 — Event Date (The date as of which BlackRock's ownership was calculated for this filing)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Baker Hughes Co. (company) — the subject company in which BlackRock holds shares
- 48,103,400 (dollar_amount) — number of Class A Common Stock shares owned by BlackRock
- 5.0% (dollar_amount) — percentage of Baker Hughes Co. Class A Common Stock owned by BlackRock
- January 31, 2024 (date) — the date of the event requiring the filing
- February 7, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- Baker Hughes Co. stock price may experience minor downward pressure or increased volatility due to the reported decrease in institutional ownership. (Baker Hughes Co.) — low confidence, target: Within 1-2 weeks
- Other institutional investors may review their positions in Baker Hughes Co. following BlackRock's adjustment. (Institutional Investors) — medium confidence, target: Within 1 month
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A is an amendment (Amendment No: 2) filed by BlackRock Inc. to update its beneficial ownership of Class A Common Stock in Baker Hughes Co. as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Which company is the subject of this ownership disclosure?
The subject company is Baker Hughes Co., identified by the CUSIP Number 05722G100 and the name 'BAKER HUGHES CO' in the filing.
How many shares of Baker Hughes Co. Class A Common Stock does BlackRock Inc. beneficially own?
As of January 31, 2024, BlackRock Inc. beneficially owns 48,103,400 shares of Baker Hughes Co. Class A Common Stock.
What percentage of Baker Hughes Co. Class A Common Stock does BlackRock Inc. own?
BlackRock Inc. owns 5.0% of the Class A Common Stock of Baker Hughes Co. as reported in this filing.
When was the event that triggered this filing?
The event which required the filing of this statement occurred on January 31, 2024, as stated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 7, 2024 regarding Baker Hughes Co (BKR).