May Hill Capital LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR – Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 8,318 shares of the company’s stock, valued at approximately $379,000.
Several other institutional investors also recently bought and sold shares of BKR. Activest Wealth Management grew its position in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $65,000. Finally, Hilltop National Bank boosted its stake in shares of Baker Hughes by 26.7% in the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after buying an additional 300 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.
Baker Hughes Price Performance
BKR stock opened at $64.12 on Monday. The business has a 50 day moving average price of $62.16 and a 200 day moving average price of $55.61. The stock has a market cap of $63.61 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.33 and a beta of 0.97. Baker Hughes Company has a fifty-two week low of $35.83 and a fifty-two week high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.
Baker Hughes Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s payout ratio is presently 29.39%.
Insider Activity at Baker Hughes
In related news, insider Maria Georgia Magno sold 5,063 shares of the business’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 transaction of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’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 value of $16,025,801.26. Following 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Evercore reiterated an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a research note on Monday, April 27th. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. iA Financial set a $60.00 price objective on Baker Hughes in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus lifted their price objective on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.18.
View Our Latest Stock Report on Baker Hughes
About Baker Hughes
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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