Baker Hughes Company $BKR Shares Acquired by US Bancorp DE

US Bancorp DE boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 112.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 611,453 shares of the company’s stock after buying an additional 323,712 shares during the quarter. US Bancorp DE owned approximately 0.06% of Baker Hughes worth $29,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BKR. Activest Wealth Management grew its stake in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of 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 valued at $32,000 after acquiring an additional 337 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of Baker Hughes in the second quarter valued at about $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes during the second quarter worth about $36,000. Finally, Rothschild Investment LLC raised its stake in Baker Hughes by 66.6% during the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after purchasing an additional 496 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.6%

Shares of NASDAQ BKR opened at $65.26 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 stock has a market capitalization of $64.49 billion, a PE ratio of 25.10, a PEG ratio of 1.76 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $65.78. The stock has a fifty day simple moving average of $54.51 and a 200-day simple moving average of $49.61.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up .3% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. On average, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s dividend payout ratio is presently 35.38%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Barclays increased their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Thursday, January 15th. Capital One Financial increased their price target on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Finally, BMO Capital Markets boosted their price objective on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.39.

Insiders Place Their Bets

In related news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction on 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 transaction, the insider directly 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 have sold a total of 40,001 shares of company stock worth $2,322,692 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Company 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.