Bokf Na Acquires 92,918 Shares of Baker Hughes Company $BKR

Bokf Na increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 54.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 263,877 shares of the company’s stock after acquiring an additional 92,918 shares during the period. Bokf Na’s holdings in Baker Hughes were worth $12,856,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BKR. Brandywine Global Investment Management LLC raised its position in Baker Hughes by 8.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares in the last quarter. Synergy Asset Management LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth $1,920,000. Cibc World Market Inc. grew its position in shares of Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after buying an additional 99,314 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares during the period. Finally, Johnson Investment Counsel Inc. raised its holdings in shares of Baker Hughes by 10,225.3% in the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock valued at $41,391,000 after acquiring an additional 841,338 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was 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 is available through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,593 shares of the stock in a transaction on 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 sale, the chief executive officer owned 672,810 shares of the company’s stock, valued at approximately $41,128,875.30. This represents a 28.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 312,594 shares of company stock worth $18,986,302. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. BMO Capital Markets upped their price target on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. Finally, UBS Group lifted their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

Baker Hughes Price Performance

BKR opened at $58.97 on Thursday. The firm has a market capitalization of $58.28 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.61 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The business’s 50-day moving average is $56.96 and its two-hundred day moving average is $50.65. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 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 business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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 1.6%. Baker Hughes’s dividend payout ratio is presently 35.38%.

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.