WCG Wealth Advisors LLC Makes New $4.44 Million Investment in Baker Hughes Company $BKR

WCG Wealth Advisors LLC purchased a new position in Baker Hughes Company (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 97,377 shares of the company’s stock, valued at approximately $4,435,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Baker Hughes by 35.1% in the 4th quarter. CIBC Asset Management Inc now owns 413,187 shares of the company’s stock worth $18,817,000 after acquiring an additional 107,283 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Baker Hughes by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 6,619,211 shares of the company’s stock valued at $301,439,000 after purchasing an additional 39,084 shares in the last quarter. Kesler Norman & Wride LLC grew its stake in Baker Hughes by 16.7% in the fourth quarter. Kesler Norman & Wride LLC now owns 28,777 shares of the company’s stock valued at $1,311,000 after purchasing an additional 4,125 shares during the last quarter. Bridges Investment Management Inc. bought a new position in Baker Hughes in the fourth quarter worth about $252,000. Finally, 3Chopt Investment Partners LLC raised its holdings in Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 282,745 shares of company stock valued at $16,651,472. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on BKR. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a report on Sunday, April 26th. TD Cowen boosted their price target on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Stifel Nicolaus boosted their target price 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. Finally, Argus upped their price target on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Eighteen research 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. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Stock Up 2.9%

Shares of BKR stock opened at $66.11 on Friday. The stock’s 50-day simple moving average is $63.91 and its 200-day simple moving average is $57.31. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The firm has a market capitalization of $65.59 billion, a PE ratio of 21.12, a P/E/G ratio of 2.29 and a beta of 0.93. Baker Hughes Company has a fifty-two week low of $37.08 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS 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 the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Equities analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

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

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.