WBI Investments LLC Buys New Shares in Baker Hughes Company $BKR

WBI Investments LLC bought a new position in Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,734 shares of the company’s stock, valued at approximately $1,059,000.

Other institutional investors have also bought and sold shares of the company. Activest Wealth Management boosted its stake in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Baker Hughes during the 2nd quarter valued at approximately $36,000. Rothschild Investment LLC raised its stake in Baker Hughes by 66.6% during the 2nd quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock valued at $48,000 after purchasing an additional 496 shares during the period. Finally, Spire Wealth Management lifted its holdings in Baker Hughes by 357.8% in the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $57.00 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $67.00. The business has a 50 day simple moving average of $57.58 and a two-hundred day simple moving average of $50.99. The stock has a market capitalization of $56.33 billion, a PE ratio of 21.92, a P/E/G ratio of 1.49 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. On average, research analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling at Baker Hughes

In other news, insider Maria Georgia Magno sold 19,150 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider directly owned 14,588 shares in the company, valued at approximately $862,296.68. This represents a 56.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 590,251 shares of company stock worth $35,311,023 over the last three months. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BKR shares. Piper Sandler upped their price target on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Barclays lifted their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Argus boosted their target price on shares of Baker Hughes from $55.00 to $67.00 in a report on Tuesday, January 27th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Susquehanna raised their target price on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.61.

About Baker Hughes

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.