12,604 Shares in Baker Hughes Company $BKR Acquired by MQS Management LLC

MQS Management LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 12,604 shares of the company’s stock, valued at approximately $574,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors purchased a new position in Baker Hughes during the third quarter valued at approximately $729,670,000. Bessemer Group Inc. lifted its holdings in Baker Hughes by 12,983.5% during 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 in the last quarter. Capital World Investors lifted its holdings in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Baker Hughes during the fourth quarter valued at approximately $119,078,000. Finally, First Trust Advisors LP lifted its holdings in Baker Hughes by 25.7% during the third quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock valued at $454,334,000 after purchasing an additional 1,906,384 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 550,250 shares of company stock worth $32,988,331 in the last three months. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. iA Financial set a $60.00 price target on shares of Baker Hughes in a report on Tuesday, January 27th. Barclays reaffirmed an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Finally, Zephirin Group lifted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.41.

Baker Hughes Price Performance

BKR stock opened at $66.06 on Friday. Baker Hughes Company has a one year low of $36.03 and a one year high of $70.41. The company’s fifty day moving average price is $62.80 and its 200-day moving average price is $56.18. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a market capitalization of $65.54 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

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.