Premier Path Wealth Partners LLC Has $228,000 Stake in Baker Hughes Company $BKR

Premier Path Wealth Partners LLC trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 6.0% during the second quarter, HoldingsChannel reports. The fund owned 5,936 shares of the company’s stock after selling 379 shares during the period. Premier Path Wealth Partners LLC’s holdings in Baker Hughes were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BKR. Cambridge Investment Research Advisors Inc. grew its position in Baker Hughes by 32.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company’s stock valued at $963,000 after purchasing an additional 5,313 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Baker Hughes in the first quarter valued at $233,000. Private Trust Co. NA grew its position in Baker Hughes by 15.9% in the first quarter. Private Trust Co. NA now owns 3,279 shares of the company’s stock valued at $144,000 after purchasing an additional 449 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Baker Hughes by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 86,150 shares of the company’s stock valued at $3,786,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Baker Hughes by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company’s stock valued at $54,462,000 after purchasing an additional 82,706 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BKR. Bank of America raised their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Melius assumed coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Melius Research assumed coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective for the company. Twenty-three equities research 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, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Baker Hughes Stock Performance

Shares of BKR opened at $48.41 on Friday. The firm has a 50-day moving average of $46.99 and a 200-day moving average of $42.08. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The company has a market cap of $47.73 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company 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%. As a group, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Insider Activity

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes 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 approximately $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. The trade was a 7.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.27% of the company’s stock.

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.