Baker Hughes Company $BKR Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 257,100 shares of the company’s stock after acquiring an additional 13,500 shares during the period. Gabelli Funds LLC’s holdings in Baker Hughes were worth $11,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BKR. Activest Wealth Management boosted its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after buying an additional 300 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Baker Hughes during the third quarter worth approximately $65,000. Finally, Hilltop National Bank boosted its position in shares of Baker Hughes by 26.7% during the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $65.47 on Wednesday. Baker Hughes Company has a one year low of $35.83 and a one year high of $70.41. The stock has a fifty day moving average of $62.39 and a 200-day moving average of $55.86. The company has a market capitalization of $64.95 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.41 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 announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 550,250 shares of company stock worth $32,988,331. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BKR. UBS Group boosted their price objective on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Stifel Nicolaus boosted their price objective on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Piper Sandler boosted their price objective on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Zephirin Group boosted their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, Argus upped their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.18.

Baker Hughes 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.