Titan Wealth CI Ltd Acquires New Stake in Baker Hughes Company $BKR

Titan Wealth CI Ltd bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 119,690 shares of the company’s stock, valued at approximately $5,451,000. Baker Hughes comprises approximately 2.1% of Titan Wealth CI Ltd’s portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators increased its stake in Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after purchasing an additional 179 shares during the period. Krilogy Financial LLC lifted its position in shares of Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares in the last quarter. 3Chopt Investment Partners LLC boosted its stake in shares of Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after purchasing an additional 203 shares during the period. Formidable Asset Management LLC boosted its stake in shares of Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after purchasing an additional 225 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in shares of Baker Hughes by 16.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock valued at $74,000 after purchasing an additional 228 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BKR shares. Piper Sandler increased their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Barclays restated an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Susquehanna increased their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Finally, Citigroup decreased their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the transaction, the chief executive officer owned 784,944 shares in the company, valued at approximately $49,734,051.84. The trade was a 18.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Baker Hughes Stock Down 1.5%

Shares of Baker Hughes stock opened at $61.52 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 52-week low of $37.38 and a 52-week high of $70.41. The company has a market capitalization of $61.03 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.22 and a beta of 0.93. The company has a 50 day moving average of $64.18 and a 200 day moving average of $58.12.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 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 for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.

Baker Hughes 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.