Calamos Advisors LLC bought a new position in Baker Hughes Company (NASDAQ:BKR – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 74,000 shares of the company’s stock, valued at approximately $4,518,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Woodline Partners LP lifted its holdings in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth boosted its position in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Jump Financial LLC acquired a new position in Baker Hughes in the 2nd quarter worth approximately $2,301,000. NewEdge Advisors LLC raised 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 last quarter. Finally, Nebula Research & Development LLC purchased a new position in Baker Hughes during the 2nd quarter worth approximately $1,014,000. Institutional investors and hedge funds own 92.06% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. HSBC boosted their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Sunday. Zacks Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, UBS Group upped their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $70.09.
Baker Hughes Price Performance
NASDAQ:BKR opened at $57.25 on Thursday. 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 Company has a 52 week low of $38.37 and a 52 week high of $70.41. The stock’s 50-day moving average price is $61.15 and its 200-day moving average price is $59.48. The stock has a market capitalization of $56.80 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.
Baker Hughes (NASDAQ:BKR – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share 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 analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. As a group, equities analysts expect that Baker Hughes Company will post 2.27 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.
Insider Buying and Selling
In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 in the last quarter. Insiders own 0.19% of the company’s stock.
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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