Cetera Investment Advisers Boosts Position in Baker Hughes Company $BKR

Cetera Investment Advisers raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 40.5% during the 1st quarter, Holdings Channel reports. The firm owned 162,380 shares of the company’s stock after purchasing an additional 46,823 shares during the quarter. Cetera Investment Advisers’ holdings in Baker Hughes were worth $9,913,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BKR. Cardano Risk Management B.V. raised its holdings in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Norges Bank purchased a new position in shares of Baker Hughes in the 4th quarter worth about $1,022,491,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Baker Hughes by 58.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after purchasing an additional 4,278,573 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after purchasing an additional 3,464,637 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Baker Hughes in the 4th quarter valued at $144,262,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $59.90 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $59.42 billion, a PE ratio of 19.32, a P/E/G ratio of 2.30 and a beta of 0.96. The business has a fifty day simple moving average of $59.47 and a 200-day simple moving average of $60.25. Baker Hughes Company has a fifty-two week low of $41.96 and a fifty-two week high of $70.41.

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

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 29.68%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BKR shares. Zacks Research raised shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Susquehanna raised their price objective on shares of Baker Hughes from $70.00 to $72.00 and gave the stock a “positive” rating in a report on Tuesday. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. BMO Capital Markets raised their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, Citigroup boosted their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.95.

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.