Kestra Advisory Services LLC Buys 36,578 Shares of Baker Hughes Company $BKR

Kestra Advisory Services LLC raised its stake in Baker Hughes Company (NASDAQ:BKR) by 30.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,954 shares of the company’s stock after purchasing an additional 36,578 shares during the period. Kestra Advisory Services LLC’s holdings in Baker Hughes were worth $9,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BKR. Woodline Partners LP lifted its position in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth grew its position in shares of 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 buying an additional 986 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth approximately $2,301,000. NewEdge Advisors LLC raised its stake in shares of Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $1,014,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $57.66 on Tuesday. The business has a fifty day moving average of $61.54 and a 200 day moving average of $59.31. Baker Hughes Company has a 1 year low of $38.37 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market capitalization of $57.20 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted 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. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, research analysts expect that Baker Hughes Company will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of analyst reports. Piper Sandler raised their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Sunday. Royal Bank Of Canada increased their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. UBS Group raised 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. Finally, BMO Capital Markets boosted their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $70.14.

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.