Eventide Asset Management LLC Purchases 319,345 Shares of Baker Hughes Company $BKR

Eventide Asset Management LLC boosted its holdings in Baker Hughes Company (NASDAQ:BKR) by 1,042.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 349,974 shares of the company’s stock after purchasing an additional 319,345 shares during the period. Eventide Asset Management LLC’s holdings in Baker Hughes were worth $15,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP raised its stake in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its stake in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after purchasing an additional 986 shares during the last quarter. Jump Financial LLC acquired a new position in Baker Hughes during the 2nd quarter valued at $2,301,000. NewEdge Advisors LLC raised its stake in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Baker Hughes during the 2nd quarter valued at $1,014,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $63.14 on Monday. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The company’s 50-day moving average price is $64.12 and its two-hundred day moving average price is $57.94. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market cap of $62.64 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.25 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, research analysts forecast that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Analyst Ratings Changes

BKR has been the topic of several analyst reports. Citigroup lowered their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. Johnson Rice initiated coverage on shares of Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target on the stock. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. BMO Capital Markets boosted 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a report on Sunday, April 26th. Eighteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $69.14.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the 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 sale, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

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.