Baker Hughes Company $BKR Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,968 shares of the company’s stock after acquiring an additional 8,212 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Baker Hughes were worth $3,060,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BKR. Activest Wealth Management boosted its position in shares of 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 purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after buying an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in Baker Hughes in the second quarter valued at approximately $36,000. Spire Wealth Management boosted its holdings in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after acquiring an additional 798 shares during the period. Finally, N.E.W. Advisory Services LLC grew its position in shares of Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after acquiring an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were 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 $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 590,251 shares of company stock worth $35,311,023. Insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $61.03 on Wednesday. The stock has a market capitalization of $60.31 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.64 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The company’s fifty day moving average is $59.82 and its two-hundred day moving average is $52.08.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. The company 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 revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKR. Stifel Nicolaus upped their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Susquehanna lifted their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. UBS Group increased their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets boosted their price target on Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

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.