Gabelli Funds LLC Has $11.87 Million Position in Baker Hughes Company $BKR

Gabelli Funds LLC boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 6.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,600 shares of the company’s stock after purchasing an additional 15,200 shares during the period. Gabelli Funds LLC’s holdings in Baker Hughes were worth $11,868,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its position in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in shares of Baker Hughes in the second quarter worth $36,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Baker Hughes in the second quarter worth $36,000. Finally, Rothschild Investment LLC raised its holdings in shares of Baker Hughes by 66.6% during the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BKR shares. TD Cowen lifted their price objective on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Thursday, January 15th. BMO Capital Markets lifted their price target on Baker Hughes from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Finally, Capital One Financial boosted their price target on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 272,593 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total value of $16,663,610.09. Following the transaction, the chief executive officer owned 672,810 shares of the company’s stock, valued at $41,128,875.30. This trade represents a 28.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 312,594 shares of company stock valued at $18,986,302 in the last quarter. Company insiders own 0.27% of the company’s stock.

Baker Hughes Trading Down 0.6%

Shares of NASDAQ:BKR opened at $59.81 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $59.11 billion, a PE ratio of 23.00, a P/E/G ratio of 1.62 and a beta of 0.83. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The firm has a fifty day moving average price of $56.13 and a 200 day moving average price of $50.37.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is 35.38%.

Trending Headlines about Baker Hughes

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes’ weekly rig count showed U.S. drillers added oil and gas rigs for the first time in four weeks, a sign of improving activity that supports demand for BKR’s services. US drillers add oil, gas rigs for first time in four weeks, Baker Hughes says
• Positive Sentiment: Baker Hughes successfully priced $6.5B of U.S. senior notes and €3B of euro notes across multiple maturities; the sales show investor demand and provide cash to help fund the Chart Industries takeover. Baker Hughes Successfully Prices $6.5 Billion and €3 Billion Offerings of Senior Notes
• Positive Sentiment: At least one sell-side note expects upside for BKR, providing support to the equity narrative. Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says
• Positive Sentiment: Widening geopolitical risk after the death of Iran’s Supreme Leader is reshaping energy markets; higher oil-price risk can boost activity and service revenues over time. The Iran War Is Reshaping Energy Markets and These Stocks Win Big
• Neutral Sentiment: Earlier media reports said Baker Hughes planned a ~$10B cross-border bond sale to help finance the Chart acquisition—this was a precursor to the priced notes and mostly confirms the financing plan. Baker Hughes Plans $10 Billion Bond Sale to Finance Chart Industries Acquisition
• Neutral Sentiment: Reported short-interest figures are showing zero shares (likely a data/ reporting artifact) and are not informative for current positioning. (Data entry)
• Negative Sentiment: CEO Lorenzo Simonelli sold 272,593 shares (~$16.7M) on March 4, reducing his stake by ~29% — a large insider sale that can weigh on sentiment. SEC filing: SEC Form 4
• Negative Sentiment: Multiple other recent insider sales are documented (Quiver summary), which may amplify investor concern about insider liquidity and timing around the Chart acquisition. Quiver: Debt offerings and insider activity

Baker Hughes Company 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.