Pathway Financial Advisers LLC Takes Position in Baker Hughes Company $BKR

Pathway Financial Advisers LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,863 shares of the company’s stock, valued at approximately $907,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after buying an additional 937,614 shares during the period. Cardano Risk Management B.V. lifted its position in Baker Hughes by 1,005.1% during 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 acquiring an additional 44,887,481 shares during the period. Capital World Investors lifted its position in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Geode Capital Management LLC grew its stake in shares of Baker Hughes by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after purchasing an additional 204,534 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The sale was disclosed in a legal 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, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 367,910 shares of company stock valued at $22,420,797. Insiders own 0.19% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $56.31 on Tuesday. The company has a market cap of $55.86 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.04 and a beta of 0.93. Baker Hughes Company has a one year low of $37.69 and a one year high of $70.41. The business has a fifty day moving average of $63.48 and a two-hundred day moving average of $58.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts predict that Baker Hughes Company will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Wall Street Analyst Weigh In

BKR has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group upped their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. BMO Capital Markets raised their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada boosted their price target on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, HSBC increased their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $69.14.

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.