35,212 Shares in Baker Hughes Company $BKR Bought by GoalVest Advisory LLC

GoalVest Advisory LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,212 shares of the company’s stock, valued at approximately $1,604,000.

Other large investors have also bought and sold shares of the company. Activest Wealth Management grew its stake in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position 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 purchasing an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Baker Hughes during the second quarter valued at about $36,000. Spire Wealth Management boosted its holdings in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares during the last quarter. Finally, N.E.W. Advisory Services LLC boosted its holdings in Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after purchasing an additional 416 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the sale, the chief accounting officer directly owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This trade represents a 14.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock worth $35,311,023 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Up 5.6%

Baker Hughes stock opened at $60.71 on Friday. The firm has a 50 day moving average price of $57.97 and a 200-day moving average price of $51.10. 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 twelve month low of $33.60 and a twelve month high of $67.00. The company has a market capitalization of $60.00 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.56 and a beta of 0.83.

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

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

Several research firms have commented on BKR. Stifel Nicolaus increased their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group boosted their target price on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. upped their target price on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Argus increased their price target on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Finally, BMO Capital Markets boosted their price objective on Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.