Baker Hughes Company $BKR Shares Bought by Capital World Investors

Capital World Investors grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 47,546,388 shares of the company’s stock after acquiring an additional 3,153,709 shares during the quarter. Capital World Investors’ holdings in Baker Hughes were worth $2,316,462,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Woodline Partners LP lifted its holdings in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after acquiring an additional 24,225 shares during the period. Focus Partners Wealth lifted its position in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after acquiring an additional 986 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Baker Hughes during the 2nd quarter worth about $359,000. Summit Investment Advisors Inc. grew its stake in Baker Hughes by 2.2% in the 1st quarter. Summit Investment Advisors Inc. now owns 42,013 shares of the company’s stock worth $1,846,000 after acquiring an additional 888 shares during the period. Finally, Prospera Financial Services Inc increased its stake in Baker Hughes by 30.6% in the second quarter. Prospera Financial Services Inc now owns 13,598 shares of the company’s stock valued at $521,000 after purchasing an additional 3,186 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BKR shares. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Zephirin Group lifted their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. BMO Capital Markets upped their price objective on Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Piper Sandler lifted their target price on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Insider Buying and Selling

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,593 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $61.13, for a total transaction of $16,663,610.09. Following the transaction, the chief executive officer owned 672,810 shares in the company, valued at approximately $41,128,875.30. This trade represents a 28.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 312,594 shares of company stock valued at $18,986,302. Insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $60.10 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $56.42 and a 200 day moving average price of $50.49. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The company has a market cap of $59.39 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.62 and a beta of 0.83.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

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.