Oliver Luxxe Assets LLC Grows Stock Position in Baker Hughes (NASDAQ:BKR)

Oliver Luxxe Assets LLC increased its holdings in Baker Hughes (NASDAQ:BKR) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 147,749 shares of the company’s stock after acquiring an additional 712 shares during the period. Oliver Luxxe Assets LLC’s holdings in Baker Hughes were worth $4,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Diversified Trust Co increased its holdings in Baker Hughes by 98.7% in the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after purchasing an additional 24,850 shares during the last quarter. Occidental Asset Management LLC purchased a new position in Baker Hughes in the first quarter valued at $1,861,000. Hennessy Advisors Inc. acquired a new stake in Baker Hughes in the first quarter valued at $5,611,000. 180 Wealth Advisors LLC lifted its holdings in Baker Hughes by 19.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock worth $740,000 after buying an additional 3,671 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Baker Hughes by 8.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after acquiring an additional 1,829 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group increased their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Susquehanna restated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Wednesday, April 24th. Morgan Stanley upped their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.27.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $0.20 on Monday, hitting $34.97. The company’s stock had a trading volume of 1,549,369 shares, compared to its average volume of 7,852,194. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The company has a market capitalization of $34.90 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $32.04.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts predict that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

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.