Wealth High Governance Capital Ltda Invests $2.15 Million in Baker Hughes Company $BKR

Wealth High Governance Capital Ltda bought a new stake in Baker Hughes Company (NASDAQ:BKR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,148 shares of the company’s stock, valued at approximately $2,146,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its position in Baker Hughes by 1.6% during the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after acquiring an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. raised its position in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Geode Capital Management LLC boosted its stake in Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes in the fourth quarter worth $1,022,491,000. Finally, Capital International Investors grew its holdings in shares of Baker Hughes by 6.4% during the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after purchasing an additional 956,808 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Baker Hughes stock opened at $60.49 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 1 year low of $41.96 and a 1 year high of $70.41. The company has a market cap of $60.05 billion, a PE ratio of 19.51, a PEG ratio of 1.92 and a beta of 0.97. The company’s 50-day moving average is $59.36 and its two-hundred day moving average is $60.33.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities analysts anticipate that Baker Hughes Company will post 2.46 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is currently 29.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Wolfe Research assumed coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price objective for the company. Zacks Research raised shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Argus upped their target price on shares of Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.95.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction 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 transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 in the last three months. 0.19% of the stock is owned by 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.