Leuthold Group LLC Purchases Shares of 12,366 Baker Hughes Company $BKR

Leuthold Group LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,366 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. iA Global Asset Management Inc. increased its stake in Baker Hughes by 6.1% in the 4th quarter. iA Global Asset Management Inc. now owns 198,219 shares of the company’s stock valued at $9,027,000 after buying an additional 11,396 shares during the last quarter. May Hill Capital LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth about $379,000. Canada Post Corp Registered Pension Plan increased its stake in shares of Baker Hughes by 71.4% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 28,150 shares of the company’s stock worth $1,282,000 after purchasing an additional 11,730 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Baker Hughes by 0.9% during the 4th quarter. Stephens Investment Management Group LLC now owns 372,808 shares of the company’s stock worth $16,978,000 after purchasing an additional 3,466 shares during the last quarter. Finally, Everstar Asset Management LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth about $702,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 550,250 shares of company stock valued at $32,988,331 in the last three months. Insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $64.12 on Monday. Baker Hughes Company has a 52 week low of $35.83 and a 52 week high of $70.41. The firm has a market cap of $63.61 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The firm’s 50-day simple moving average is $62.16 and its 200 day simple moving average is $55.61. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. On average, analysts forecast that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s payout ratio is currently 29.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Barclays restated an “equal weight” rating and set a $74.00 price objective (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research note on Monday, April 27th. Argus boosted their price objective on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Finally, TD Cowen boosted their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.18.

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.