Baker Hughes Company $BKR Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Baker Hughes Company (NASDAQ:BKR) by 15.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,127,975 shares of the company’s stock after buying an additional 154,053 shares during the period. Wellington Management Group LLP’s holdings in Baker Hughes were worth $62,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp boosted its position in shares of Baker Hughes by 1.6% during the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after acquiring an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. raised its stake in Baker Hughes by 1,005.1% during the fourth 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 period. Geode Capital Management LLC raised its stake in Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares during the period. Norges Bank acquired a new position in Baker Hughes in the 4th quarter valued at about $1,022,491,000. Finally, Capital International Investors boosted its holdings in Baker Hughes by 6.4% in the 4th quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock valued at $725,616,000 after purchasing an additional 956,808 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Baker Hughes stock opened at $64.63 on Thursday. The company’s 50 day simple moving average is $59.61 and its 200-day simple moving average is $61.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a 1 year low of $43.92 and a 1 year high of $70.41. The company has a market capitalization of $64.16 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share 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 firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. As a group, equities research analysts expect that Baker Hughes Company will post 2.51 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is currently 29.68%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Wolfe Research started coverage on Baker Hughes in a research note on Wednesday, July 8th. They set an “outperform” rating and a $70.00 target price for the company. Barclays reduced their target price on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Finally, Morgan Stanley began coverage on Baker Hughes in a research note on Friday, August 7th. They issued an “overweight” rating and a $70.00 price target on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.67.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction on Monday, June 22nd. The stock was 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 directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

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.