Wealth High Governance Capital Ltda Buys Shares of 35,148 Baker Hughes Company $BKR

Wealth High Governance Capital Ltda bought a new position in Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,148 shares of the company’s stock, valued at approximately $2,146,000.

Several other hedge funds also recently modified their holdings of the business. Cardano Risk Management B.V. lifted its holdings in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Norges Bank acquired a new position in Baker Hughes during the fourth quarter valued at approximately $1,022,491,000. Price T Rowe Associates Inc. MD grew its holdings in Baker Hughes by 58.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after purchasing an additional 4,278,573 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after purchasing an additional 3,464,637 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Baker Hughes in the fourth quarter valued at approximately $144,262,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BKR. Barclays reduced their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, July 16th. Stifel Nicolaus lifted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. HSBC boosted their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price target on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.95.

Baker Hughes Stock Performance

NASDAQ BKR opened at $60.49 on Monday. Baker Hughes Company has a twelve month low of $41.96 and a twelve month high of $70.41. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.05 billion, a P/E ratio of 19.51, a PEG ratio of 1.92 and a beta of 0.97. The company’s 50-day simple moving average is $59.36 and its 200 day simple moving average is $60.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. As a group, research analysts forecast that Baker Hughes Company will post 2.46 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is 29.68%.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

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.