PKO Investment Management Joint Stock Co bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,000 shares of the company’s stock, valued at approximately $1,099,000.
Several other hedge funds also recently modified their holdings of the business. EFG International AG bought a new stake in shares of Baker Hughes during the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its stake in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the last quarter. Quarry LP acquired a new stake in Baker Hughes during the 4th quarter worth $31,000. MV Capital Management Inc. acquired a new stake in Baker Hughes during the 4th quarter worth $34,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Baker Hughes during the 4th quarter worth $35,000. Institutional investors own 92.06% of the company’s stock.
Baker Hughes Trading Down 0.8%
Shares of NASDAQ BKR opened at $58.68 on Wednesday. The company’s fifty day moving average is $63.85 and its 200-day moving average is $58.43. The stock has a market cap of $58.21 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.13 and a beta of 0.93. Baker Hughes Company has a twelve month low of $37.38 and a twelve month 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. Shareholders of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.
Wall Street Analyst Weigh In
BKR has been the topic of a number of analyst reports. Capital One Financial increased their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Argus lifted their price objective on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Susquehanna upped their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a report on Monday, April 27th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a research note on Sunday, April 26th. Finally, Citigroup reduced their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $69.14.
Check Out Our Latest Research Report on BKR
Insider Transactions at Baker Hughes
In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total value of $11,494,200.96. Following the transaction, the chief executive officer owned 784,944 shares in the company, valued at $49,734,051.84. This trade represents a 18.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by insiders.
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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