Heartland Bank & Trust Co Invests $484,000 in Baker Hughes Company $BKR

Heartland Bank & Trust Co purchased a new stake in Baker Hughes Company (NASDAQ:BKR) in the second quarter, HoldingsChannel reports. The firm purchased 8,725 shares of the company’s stock, valued at approximately $484,000.

Other hedge funds also recently bought and sold shares of the company. EFG International AG acquired a new stake in Baker Hughes during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. raised its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the period. Quarry LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth $31,000. MV Capital Management Inc. bought a new stake in Baker Hughes in the 4th quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Baker Hughes in the 4th quarter valued at $35,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% 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 sold 367,910 shares of company stock valued at $22,420,797 over the last three months. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Capital One Financial boosted their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. BMO Capital Markets upped their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Wolfe Research initiated coverage on Baker Hughes in a report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.43.

Baker Hughes Trading Down 0.7%

Shares of NASDAQ:BKR opened at $62.34 on Friday. The company’s 50-day moving average price is $59.07 and its two-hundred day moving average price is $61.30. Baker Hughes Company has a one year low of $43.61 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The stock has a market capitalization of $61.88 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. On average, equities analysts forecast that Baker Hughes Company will post 2.51 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th 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 Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

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.