Capital International Inc. CA Takes Position in Baker Hughes Company $BKR

Capital International Inc. CA bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, Holdings Channel.com reports. The firm bought 256,927 shares of the company’s stock, valued at approximately $12,517,000.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Activest Wealth Management increased its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Baker Hughes in the second quarter worth about $36,000. Rothschild Investment LLC boosted its position in shares of Baker Hughes by 66.6% in the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after buying an additional 496 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after buying an additional 798 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.3%

NASDAQ:BKR opened at $59.34 on Wednesday. The company has a market cap of $58.64 billion, a PE ratio of 22.82, a P/E/G ratio of 1.63 and a beta of 0.83. The business’s 50 day moving average is $56.69 and its two-hundred day moving average is $50.59. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s payout ratio is presently 35.38%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,593 shares of Baker Hughes stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total value of $16,663,610.09. Following the completion of the transaction, the chief executive officer directly owned 672,810 shares of the company’s stock, valued at approximately $41,128,875.30. The trade was a 28.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares of the company’s stock, valued at $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 312,594 shares of company stock worth $18,986,302 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on BKR shares. BMO Capital Markets boosted their price target on Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Citigroup increased their price objective on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. TD Cowen lifted their price objective on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Piper Sandler boosted their target price on shares of Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Finally, UBS Group upped their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes 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.