Baker Hughes Company $BKR Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 71.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,013 shares of the company’s stock after buying an additional 199,541 shares during the quarter. NEOS Investment Management LLC’s holdings in Baker Hughes were worth $23,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Woodline Partners LP grew its position in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth boosted its position in Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after purchasing an additional 986 shares in the last quarter. Harbour Investments Inc. grew its position in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the period. Mutual Advisors LLC purchased a new position in shares of Baker Hughes in the 2nd quarter valued at about $475,000. Finally, Stephens Inc. AR lifted its position in shares of Baker Hughes by 27.2% during the 2nd quarter. Stephens Inc. AR now owns 11,938 shares of the company’s stock valued at $458,000 after buying an additional 2,555 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BKR shares. Piper Sandler boosted their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Susquehanna upped their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. BMO Capital Markets increased their price objective on Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. HSBC upped their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Zephirin Group raised their target price on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.78.

Insiders Place Their Bets

In related news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider directly owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Stock Down 0.3%

Shares of NASDAQ:BKR opened at $61.20 on Tuesday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $62.27. The firm’s 50 day moving average price is $51.44 and its 200 day moving average price is $48.44. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a market cap of $60.48 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities research 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 will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

About Baker Hughes

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.