Nkcfo LLC Takes Position in Baker Hughes Company $BKR

Nkcfo LLC purchased a new position in Baker Hughes Company (NASDAQ:BKR) in the third quarter, Holdings Channel reports. The fund purchased 60,900 shares of the company’s stock, valued at approximately $2,967,000. Baker Hughes accounts for approximately 0.9% of Nkcfo LLC’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Vanguard Group Inc. lifted its position in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after acquiring an additional 397,984 shares during the last quarter. Norges Bank purchased a new stake in shares of Baker Hughes during the second quarter worth $862,722,000. Artisan Partners Limited Partnership boosted its position in Baker Hughes by 1.0% during the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after purchasing an additional 167,095 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after purchasing an additional 2,044,402 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 2.3%

NASDAQ:BKR opened at $63.67 on Tuesday. The company’s 50 day moving average is $52.90 and its 200-day moving average is $49.09. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $64.25. The firm has a market cap of $62.92 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.67 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last posted its 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 business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. Baker Hughes’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s payout ratio is presently 35.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research report on Tuesday, January 27th. UBS Group lifted their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Evercore restated an “outperform” rating and set a $68.00 price target on shares of Baker Hughes in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Nineteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Insider Buying and Selling

In other news, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction that occurred 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 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 stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider directly owned 14,588 shares of the company’s stock, valued at $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 40,001 shares of company stock valued at $2,322,692. Insiders own 0.27% of the company’s stock.

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.