USA Financial Formulas Takes Position in Baker Hughes Company $BKR

USA Financial Formulas bought a new position in Baker Hughes Company (NASDAQ:BKR) in the 4th quarter, Holdings Channel.com reports. The firm bought 18,234 shares of the company’s stock, valued at approximately $830,000.

A number of other large investors have also added to or reduced their stakes in BKR. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% in the 3rd 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. lifted its position in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after buying an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Baker Hughes in the second quarter worth approximately $36,000. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its position in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, January 31st. Zephirin Group increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. TD Cowen lifted their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Susquehanna lifted their price objective on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $63.22 on Friday. 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 company has a 50-day moving average price of $59.44 and a 200-day moving average price of $51.85. The company has a market cap of $62.48 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.83. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $67.00.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

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.