8,952 Shares in Baker Hughes Company $BKR Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,952 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds have also added to or reduced their stakes in BKR. Woodline Partners LP boosted its position in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after buying an additional 24,225 shares during the period. Focus Partners Wealth boosted its position in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after buying an additional 986 shares during the period. Jump Financial LLC acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $2,301,000. NewEdge Advisors LLC boosted its position in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after buying an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $1,014,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. HSBC raised their price objective on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Evercore restated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Finally, Zephirin Group raised their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.18.

Baker Hughes Price Performance

Shares of BKR opened at $64.12 on Friday. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market capitalization of $63.61 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The business has a 50-day moving average of $62.16 and a 200-day moving average of $55.54.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company 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 firm’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Insider Buying and Selling

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction that occurred on 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 sale, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes 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 completion of the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is currently owned by corporate insiders.

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.