DSG Capital Advisors LLC Invests $894,000 in Baker Hughes Company $BKR

DSG Capital Advisors LLC acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR) during the first quarter, HoldingsChannel reports. The fund acquired 14,644 shares of the company’s stock, valued at approximately $894,000.

A number of other hedge funds also recently made changes to their positions in BKR. Deseret Mutual Benefit Administrators increased its holdings in Baker Hughes by 10.5% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after acquiring an additional 179 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares during the period. 3Chopt Investment Partners LLC boosted its position in shares of Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after purchasing an additional 203 shares during the period. Evolve Private Wealth LLC increased its stake in shares of Baker Hughes by 2.4% in the first quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after purchasing an additional 203 shares in the last quarter. Finally, Formidable Asset Management LLC increased its stake in shares of Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock worth $22,420,797 over the last quarter. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent analyst reports. HSBC raised their price objective on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Barclays reiterated an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Stifel Nicolaus raised their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. Evercore restated an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price objective on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.57.

Baker Hughes Stock Performance

BKR opened at $52.78 on Friday. The stock has a market capitalization of $52.36 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.93 and a beta of 0.96. The company has a fifty day moving average of $63.14 and a 200 day moving average of $58.79. Baker Hughes Company has a fifty-two week low of $38.37 and a fifty-two week high of $70.41. 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 results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

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.