Tectonic Advisors LLC Acquires 364 Shares of Baker Hughes Company $BKR

Tectonic Advisors LLC raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 3.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,275 shares of the company’s stock after purchasing an additional 364 shares during the quarter. Tectonic Advisors LLC’s holdings in Baker Hughes were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Vontobel Holding Ltd. raised its position in Baker Hughes by 7.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 124,430 shares of the company’s stock valued at $4,771,000 after purchasing an additional 8,558 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Baker Hughes by 3.3% during the second quarter. Maryland State Retirement & Pension System now owns 48,202 shares of the company’s stock worth $1,848,000 after acquiring an additional 1,544 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in shares of Baker Hughes by 3.9% during the second quarter. KLP Kapitalforvaltning AS now owns 410,318 shares of the company’s stock worth $15,732,000 after acquiring an additional 15,300 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Baker Hughes during the second quarter worth $2,739,000. Finally, Drake & Associates LLC raised its position in shares of Baker Hughes by 78.7% during the second quarter. Drake & Associates LLC now owns 67,279 shares of the company’s stock worth $2,579,000 after acquiring an additional 29,626 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value 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 trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock worth $24,712,651 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BKR shares. Zephirin Group boosted their target price on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada boosted their target price on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday. Barclays boosted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Seaport Res Ptn downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.57.

Baker Hughes Trading Down 6.0%

NASDAQ BKR opened at $45.04 on Friday. The stock has a 50-day simple moving average of $45.93 and a 200 day simple moving average of $41.34. The company has a market capitalization of $44.40 billion, a PE ratio of 14.72, a P/E/G ratio of 2.18 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $5.09 billion during the quarter. Research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s dividend payout ratio is 30.07%.

About Baker Hughes

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.