Capital Research Global Investors Raises Holdings in Baker Hughes Company $BKR

Capital Research Global Investors increased its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,903,241 shares of the company’s stock after buying an additional 1,728,016 shares during the quarter. Capital Research Global Investors’ holdings in Baker Hughes were worth $1,262,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its position in shares of Baker Hughes by 1,242.5% in the third 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. grew its stake in shares of Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the second quarter worth about $36,000. Rothschild Investment LLC lifted 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 last quarter. Finally, Spire Wealth Management grew its position in shares of Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after acquiring an additional 798 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $60.10 on Tuesday. 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 market capitalization of $59.39 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.62 and a beta of 0.83. The stock’s fifty day simple moving average is $56.42 and its 200-day simple moving average is $50.49. Baker Hughes Company has a 1-year low of $33.60 and a 1-year 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 the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same period in the previous year, the company earned $0.70 EPS. The firm’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a dividend of $0.23 per share. 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 35.38%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,593 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total value of $16,663,610.09. Following the completion of the transaction, the chief executive officer owned 672,810 shares of the company’s stock, valued at $41,128,875.30. This represents a 28.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 312,594 shares of company stock valued at $18,986,302 in the last ninety days. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. Argus upped their price target on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Barclays lifted their price objective on Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Piper Sandler boosted their price target on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, JPMorgan Chase & Co. increased their price target on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.61.

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.