US Bancorp DE Raises Stake in Baker Hughes Company $BKR

US Bancorp DE raised its position in Baker Hughes Company (NASDAQ:BKR) by 112.5% during the third quarter, HoldingsChannel reports. The firm owned 611,453 shares of the company’s stock after buying an additional 323,712 shares during the quarter. US Bancorp DE’s holdings in Baker Hughes were worth $29,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. Activest Wealth Management increased its holdings in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position 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 worth $32,000 after acquiring an additional 337 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes in the 2nd quarter valued at about $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter worth about $36,000. Finally, Rothschild Investment LLC lifted its stake in 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 purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Thursday, January 15th. Argus boosted their price target on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Barclays raised their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Finally, Jefferies Financial Group boosted their target price on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, January 31st. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.39.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $65.26 on Friday. Baker Hughes Company has a one year low of $33.60 and a one year high of $65.78. The stock has a market capitalization of $64.49 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.76 and a beta of 0.89. The company has a 50-day simple moving average of $54.51 and a 200-day simple moving average of $49.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) 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 firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the sale, the chief accounting officer directly owned 12,052 shares in the company, valued at $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is owned by company insiders.

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.