Dynamic Technology Lab Private Ltd Takes Position in Baker Hughes Company $BKR

Dynamic Technology Lab Private Ltd purchased a new stake in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,901 shares of the company’s stock, valued at approximately $1,180,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares during the period. Capital World Investors lifted its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the period. Geode Capital Management LLC lifted its stake in shares of Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after buying an additional 204,534 shares during the period. Capital Research Global Investors lifted its stake 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 buying an additional 1,728,016 shares during the period. Finally, Norges Bank bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $1,022,491,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $63.14 on Friday. Baker Hughes Company has a 1 year low of $37.38 and a 1 year high of $70.41. The firm has a 50 day moving average of $64.12 and a 200-day moving average of $57.88. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $62.64 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last posted its 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 company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s payout ratio is 29.39%.

Analyst Upgrades and Downgrades

BKR has been the subject of several research reports. Johnson Rice initiated coverage on shares of Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price for the company. HSBC increased their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. TD Cowen raised their price target on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada raised 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, UBS Group raised their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% 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.