Baker Hughes Company $BKR Shares Bought by Capital Research Global Investors

Capital Research Global Investors raised its position in Baker Hughes Company (NASDAQ:BKR) by 7.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,903,241 shares of the company’s stock after purchasing an additional 1,728,016 shares during the period. Capital Research Global Investors owned about 2.63% of Baker Hughes worth $1,262,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. AMG National Trust Bank grew its position in Baker Hughes by 3.7% in the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after acquiring an additional 246 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Baker Hughes by 1.3% during the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock worth $959,000 after buying an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Baker Hughes by 4.4% during the third quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock valued at $306,000 after acquiring an additional 264 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in Baker Hughes by 23.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after buying an additional 270 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Baker Hughes by 4.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after acquiring an additional 275 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Baker Hughes stock opened at $60.10 on Tuesday. The stock’s 50 day moving average price is $56.42 and its two-hundred day moving average price is $50.49. The stock has a market capitalization of $59.39 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.62 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 52-week low of $33.60 and a 52-week high of $67.00.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm 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%.The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, equities analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Insider Activity

In other news, CEO Lorenzo Simonelli sold 272,593 shares of Baker Hughes stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total transaction of $16,663,610.09. Following the sale, the chief executive officer owned 672,810 shares of the company’s stock, valued at approximately $41,128,875.30. The trade was a 28.83% decrease in their position. The sale 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 Baker Hughes stock in a transaction dated Monday, February 9th. The stock was 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 312,594 shares of company stock worth $18,986,302 in the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BKR. Evercore reissued an “outperform” rating and issued a $68.00 price target on shares of Baker Hughes in a report on Wednesday, February 11th. Citigroup raised their price target on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. iA Financial set a $60.00 price target on Baker Hughes in a report on Tuesday, January 27th. Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $59.61.

About Baker Hughes

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.