Prevail Innovative Wealth Advisors LLC Purchases New Position in Baker Hughes Company $BKR

Prevail Innovative Wealth Advisors LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 139,535 shares of the company’s stock, valued at approximately $6,354,000. Baker Hughes comprises approximately 1.1% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position.

Several other hedge funds have also recently modified their holdings of BKR. Capital International Investors bought a new position in shares of Baker Hughes during the 3rd quarter worth approximately $729,670,000. Bessemer Group Inc. lifted its position in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after buying an additional 3,464,637 shares in the last quarter. Capital World Investors lifted its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after buying an additional 3,153,709 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Baker Hughes during the 4th quarter worth approximately $119,078,000. Finally, First Trust Advisors LP lifted its position in shares of Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock worth $454,334,000 after buying an additional 1,906,384 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Royal Bank Of Canada lifted their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. iA Financial set a $60.00 target price on shares of Baker Hughes in a research report on Tuesday, January 27th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Johnson Rice initiated coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.18.

Baker Hughes Trading Up 2.0%

Shares of BKR stock opened at $66.79 on Thursday. The company has a 50 day moving average of $62.53 and a 200-day moving average of $55.99. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12-month low of $35.83 and a 12-month high of $70.41. The firm has a market cap of $66.26 billion, a P/E ratio of 21.34, a PEG ratio of 2.33 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business posted $0.51 EPS. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

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.