60,900 Shares in Baker Hughes Company $BKR Acquired by Nkcfo LLC

Nkcfo LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,900 shares of the company’s stock, valued at approximately $2,967,000. Baker Hughes accounts for about 0.9% of Nkcfo LLC’s portfolio, making the stock its 27th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in the business. Activest Wealth Management increased its holdings in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after buying an additional 337 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes during the 2nd quarter valued at about $36,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Baker Hughes during the 2nd quarter worth about $36,000. Finally, Rothschild Investment LLC lifted its stake in shares of Baker Hughes by 66.6% in the 2nd quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after acquiring an additional 496 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

BKR has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Zephirin Group upped their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. HSBC raised their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, TD Cowen boosted their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Nineteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Baker Hughes Stock Up 2.3%

Shares of Baker Hughes stock opened at $63.67 on Tuesday. The stock’s fifty day moving average is $52.90 and its 200-day moving average is $49.09. The firm has a market capitalization of $62.92 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $64.25.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of Baker Hughes stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares of the company’s stock, valued at $862,296.68. The trade was a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,001 shares of company stock worth $2,322,692 over the last 90 days. 0.27% of the stock is owned by company 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.