May Hill Capital LLC Acquires Shares of 8,318 Baker Hughes Company $BKR

May Hill Capital LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,318 shares of the company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKR. Woodline Partners LP lifted its stake in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth lifted its stake in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Jump Financial LLC purchased a new stake in Baker Hughes in the second quarter valued at approximately $2,301,000. NewEdge Advisors LLC lifted its stake in Baker Hughes by 4.0% in the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after buying an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new position in shares of Baker Hughes in the second quarter valued at approximately $1,014,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, insider Maria Georgia Magno sold 5,063 shares of the company’s 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 transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 550,250 shares of company stock worth $32,988,331 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on BKR. Argus boosted their target price on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. Johnson Rice began coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a report on Sunday, April 26th. Finally, Royal Bank Of Canada boosted their target price on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $69.18.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $64.12 on Monday. The stock’s 50 day simple moving average is $62.16 and its 200-day simple moving average is $55.61. Baker Hughes Company has a 12-month low of $35.83 and a 12-month high of $70.41. The firm has a market cap of $63.61 billion, a P/E ratio of 20.49, a PEG ratio of 2.33 and a beta of 0.97. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend 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.