Intact Investment Management Inc. Buys 10,500 Shares of Baker Hughes Company $BKR

Intact Investment Management Inc. lifted its stake in Baker Hughes Company (NASDAQ:BKR) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 113,400 shares of the company’s stock after purchasing an additional 10,500 shares during the period. Intact Investment Management Inc.’s holdings in Baker Hughes were worth $5,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BKR. Krilogy Financial LLC boosted its stake in Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after buying an additional 180 shares during the period. Formidable Asset Management LLC boosted its stake in Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after buying an additional 225 shares during the period. CoreCap Advisors LLC boosted its stake in Baker Hughes by 16.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock valued at $74,000 after buying an additional 228 shares during the period. AMG National Trust Bank raised its position in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after purchasing an additional 246 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. This represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 569,400 shares of company stock worth $34,120,287. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BKR. UBS Group raised their price target on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Royal Bank Of Canada raised their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Barclays raised their price target on Baker Hughes from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Zephirin Group raised their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Finally, Piper Sandler raised their price target on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Nineteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $68.64.

Baker Hughes Stock Down 0.2%

BKR opened at $69.01 on Tuesday. The company has a market cap of $68.46 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.42 and a beta of 0.97. The business’s 50-day moving average price is $61.92 and its 200-day moving average price is $54.42. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12 month low of $35.83 and a 12 month high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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 return on equity of 14.17% and a net margin of 11.17%.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 business earned $0.51 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, May 5th. Baker Hughes’s payout ratio is currently 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.