US Bancorp DE Has $30.22 Million Stock Position in Baker Hughes Company $BKR

US Bancorp DE raised its stake in Baker Hughes Company (NASDAQ:BKR) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 663,636 shares of the company’s stock after buying an additional 52,183 shares during the period. US Bancorp DE’s holdings in Baker Hughes were worth $30,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BKR. Activest Wealth Management boosted its position in Baker Hughes by 1,242.5% in 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 in the last quarter. E Fund Management Hong Kong Co. Ltd. raised 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 valued at $32,000 after acquiring an additional 337 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after acquiring an additional 798 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 590,251 shares of company stock valued at $35,311,023 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKR. Zacks Research downgraded shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Johnson Rice began coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price target for the company. HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research note on Sunday, April 26th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $68.09.

Baker Hughes Stock Down 0.8%

Shares of NASDAQ BKR opened at $69.12 on Friday. The stock has a market capitalization of $68.57 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.44 and a beta of 0.97. The company has a 50-day moving average price of $61.92 and a 200-day moving average price of $54.29. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts forecast that Baker Hughes Company will post 2.32 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

About Baker Hughes

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.