Van ECK Associates Corp Lowers Stake in Baker Hughes Company $BKR

Van ECK Associates Corp cut its position in Baker Hughes Company (NASDAQ:BKR) by 21.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,918,813 shares of the company’s stock after selling 812,122 shares during the period. Van ECK Associates Corp owned 0.30% of Baker Hughes worth $142,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Activest Wealth Management boosted its stake 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 purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in 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 valued at $32,000 after purchasing an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Baker Hughes during the second quarter worth $36,000. Rothschild Investment LLC boosted its holdings in Baker Hughes by 66.6% in the 2nd quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock valued at $48,000 after purchasing an additional 496 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated 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 sale, the insider owned 14,588 shares in the company, valued at $862,296.68. This represents a 56.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 312,594 shares of company stock valued at $18,986,302. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BKR shares. TD Cowen boosted their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. BMO Capital Markets raised their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Finally, Argus lifted their target price on Baker Hughes from $55.00 to $67.00 in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Baker Hughes Stock Down 1.3%

Shares of NASDAQ:BKR opened at $59.34 on Wednesday. The company’s fifty day moving average is $56.69 and its 200-day moving average is $50.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The company has a market capitalization of $58.64 billion, a PE ratio of 22.82, a P/E/G ratio of 1.63 and a beta of 0.83. Baker Hughes Company has a 52 week low of $33.60 and a 52 week 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 net margin of 9.33% and a return on equity of 14.26%. The company had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The firm’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is currently 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.