35,212 Shares in Baker Hughes Company $BKR Acquired by GoalVest Advisory LLC

GoalVest Advisory LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 35,212 shares of the company’s stock, valued at approximately $1,604,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares in the last quarter. Capital World Investors grew its position in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. Capital Research Global Investors raised its stake 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 valued at $1,262,033,000 after purchasing an additional 1,728,016 shares during the period. Norges Bank bought a new stake in shares of Baker Hughes during the 2nd quarter valued at $862,722,000. Finally, Artisan Partners Limited Partnership lifted its holdings in 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 purchasing an additional 638,640 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 5.6%

Shares of BKR opened at $60.71 on Friday. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $67.00. The company has a market capitalization of $60.00 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $57.97 and its 200 day simple moving average is $51.10.

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

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The SEC filing for this sale provides additional information. In the last three months, insiders sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. Wall Street Zen raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Capital One Financial raised their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Evercore reaffirmed an “outperform” rating and set a $68.00 price objective on shares of Baker Hughes in a research note on Wednesday, February 11th. Finally, Citigroup upped their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.61.

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.