STF Management LP Lowers Stock Position in Baker Hughes Company $BKR

STF Management LP reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 59.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,903 shares of the company’s stock after selling 8,640 shares during the quarter. STF Management LP’s holdings in Baker Hughes were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Krilogy Financial LLC boosted its stake in Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares during the period. Formidable Asset Management LLC boosted its stake in Baker Hughes by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares during the period. CoreCap Advisors LLC boosted its stake in Baker Hughes by 16.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after purchasing an additional 228 shares during the period. AMG National Trust Bank boosted its stake in Baker Hughes by 3.7% in the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after purchasing an additional 246 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus upped their price target on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. TD Cowen upped their price target on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Citigroup upped their price target on Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Barclays reaffirmed an “equal weight” rating and set a $74.00 price objective (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Finally, Zacks Research cut Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $69.18.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $64.12 on Friday. The stock’s fifty day moving average is $62.16 and its 200 day moving average is $55.54. Baker Hughes Company has a fifty-two week low of $35.83 and a fifty-two week high of $70.41. The firm has a market capitalization of $63.61 billion, a PE ratio of 20.49, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 550,250 shares of company stock worth $32,988,331 in the last 90 days. 0.19% of the stock is currently owned by insiders.

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.