Pursue Wealth Partners LLC Invests $1.77 Million in Baker Hughes Company $BKR

Pursue Wealth Partners LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,396 shares of the company’s stock, valued at approximately $1,773,000.

Several other large investors also recently bought and sold shares of BKR. Activest Wealth Management increased its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Baker Hughes during the second quarter worth $36,000. Harbour Investments Inc. raised its position in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Baker Hughes in the second quarter valued at about $36,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

NASDAQ BKR opened at $61.20 on Friday. The stock has a fifty day simple moving average of $51.17 and a 200-day simple moving average of $48.31. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market cap of $60.39 billion, a PE ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $62.27.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the previous year, the firm earned $0.70 EPS. Baker Hughes’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s payout ratio is presently 35.38%.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,001 shares of company stock worth $2,322,692 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BKR shares. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. BMO Capital Markets boosted their target price on Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Thursday, January 15th. Finally, Piper Sandler lifted their price target on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.78.

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.