Stevens Capital Management LP Takes Position in Baker Hughes Company $BKR

Stevens Capital Management LP purchased a new position in Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,176 shares of the company’s stock, valued at approximately $593,000.

Several other large investors have also bought and sold shares of the company. Activest Wealth Management grew its holdings in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes in the second quarter worth $36,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Baker Hughes during the second quarter valued at $36,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the transaction, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares in the company, valued at $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,001 shares of company stock worth $2,322,692. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. HSBC boosted their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, October 27th. BMO Capital Markets increased their target price on Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Thursday, January 15th. Nineteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $62.21 on Friday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $62.75. The stock has a 50-day moving average price of $52.57 and a 200 day moving average price of $48.91. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $61.48 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.67 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.