SCP Investment LP Raises Stake in Baker Hughes Company $BKR

SCP Investment LP increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 111.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,800 shares of the company’s stock after acquiring an additional 12,000 shares during the quarter. Baker Hughes makes up approximately 0.7% of SCP Investment LP’s holdings, making the stock its 21st biggest holding. SCP Investment LP’s holdings in Baker Hughes were worth $874,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Forum Financial Management LP boosted its holdings in shares of Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after purchasing an additional 233 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Baker Hughes by 4.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after buying an additional 275 shares during the last quarter. Prosperity Consulting Group LLC boosted its stake in Baker Hughes by 2.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock worth $463,000 after buying an additional 278 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock valued at $834,000 after buying an additional 292 shares during the period. Finally, Moody National Bank Trust Division increased its stake in shares of Baker Hughes by 5.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock valued at $205,000 after acquiring an additional 296 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BKR shares. TD Cowen upped their price target on shares of Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Stifel Nicolaus upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Capital One Financial lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.42.

Baker Hughes Price Performance

BKR stock opened at $49.53 on Thursday. The stock’s 50 day moving average is $47.87 and its two-hundred day moving average is $43.54. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The company has a market capitalization of $48.87 billion, a PE ratio of 17.08, a P/E/G ratio of 2.06 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Insider Activity

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. This represents a 38.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.27% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.