USA Financial Formulas Makes New $830,000 Investment in Baker Hughes Company $BKR

USA Financial Formulas bought a new position in Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,234 shares of the company’s stock, valued at approximately $830,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Synergy Asset Management LLC purchased a new position in shares of Baker Hughes in the 3rd quarter worth about $1,920,000. Legal & General Group Plc increased its holdings in Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after buying an additional 367,728 shares during the last quarter. Nordea Investment Management AB raised its position in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after acquiring an additional 309,996 shares during the period. Cibc World Market Inc. boosted its stake in Baker Hughes by 13.6% in the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after acquiring an additional 99,314 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after acquiring an additional 598,159 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 1.4%

BKR stock opened at $63.22 on Friday. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The firm has a market capitalization of $62.48 billion, a PE ratio of 24.32, a PEG ratio of 1.71 and a beta of 0.83. 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 stock has a 50-day simple moving average of $59.44 and a two-hundred day simple moving average of $51.85.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during 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%. Baker Hughes’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. On average, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider directly owned 14,588 shares in the company, valued at $862,296.68. This represents a 56.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,032,537.67. The SEC filing for this sale provides additional information. Insiders sold 590,251 shares of company stock valued at $35,311,023 in the last quarter. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Zephirin Group raised their price target on shares of 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 target on Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Evercore reissued an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a report on Wednesday, February 11th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.