Leuthold Group LLC Acquires Shares of 12,366 Baker Hughes Company $BKR

Leuthold Group LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,366 shares of the company’s stock, valued at approximately $563,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management boosted its stake 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 acquiring an additional 497 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% in 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 boosted its stake in Baker Hughes by 55.6% in 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. Emerald Mutual Fund Advisers Trust bought a new position in Baker Hughes in the third quarter valued at approximately $65,000. Finally, Hilltop National Bank boosted its stake in Baker Hughes by 26.7% in the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after acquiring an additional 300 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $64.12 on Monday. The firm has a market cap of $63.61 billion, a PE ratio of 20.49, a PEG ratio of 2.33 and a beta of 0.97. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41. The company has a fifty day moving average price of $62.16 and a 200 day moving average price of $55.61.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. Research analysts predict that Baker Hughes Company will post 2.32 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 550,250 shares of company stock valued at $32,988,331. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BKR shares. UBS Group lifted their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. iA Financial set a $60.00 price target on shares of Baker Hughes in a research report on Tuesday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.18.

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.