SBI Okasan Asset Management Co.Ltd. Purchases Shares of 8,773 Baker Hughes Company $BKR

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,773 shares of the company’s stock, valued at approximately $398,000.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after buying an additional 468 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares in the last quarter. Finally, Hilltop National Bank grew its holdings in Baker Hughes by 26.7% during the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR opened at $63.88 on Friday. The business has a fifty day moving average of $63.69 and a 200 day moving average of $56.79. Baker Hughes Company has a 52-week low of $36.53 and a 52-week high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The stock has a market cap of $63.37 billion, a P/E ratio of 20.41, a PEG ratio of 2.30 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s 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, sell-side analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BKR shares. Capital One Financial raised their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Susquehanna lifted their target price on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a report on Monday, April 27th. UBS Group lifted their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Piper Sandler raised their price target on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.41.

Insiders Place Their Bets

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes 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 completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes 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 directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is currently owned by corporate 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.