Nwam LLC bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,127 shares of the company’s stock, valued at approximately $416,000.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted 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. Capital World Investors lifted its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Capital Research Global Investors lifted its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after buying an additional 1,728,016 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Baker Hughes by 3.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after buying an additional 638,640 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Baker Hughes during the 3rd quarter worth $729,670,000. 92.06% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on BKR shares. Royal Bank Of Canada upped their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Johnson Rice started coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. Finally, Piper Sandler upped their price objective on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Eighteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.18.
Baker Hughes Trading Up 1.0%
Shares of BKR stock opened at $65.24 on Wednesday. The stock has a market cap of $64.72 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.35 and a beta of 0.97. The stock has a 50-day moving average of $62.04 and a 200-day moving average of $55.25. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast 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 will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.
Insider Activity at Baker Hughes
In related news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s 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 sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 550,250 shares of company stock valued at $32,988,331 in the last ninety days. 0.19% of the stock is currently owned by insiders.
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.
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