MQS Management LLC Acquires Shares of 12,604 Baker Hughes Company $BKR

MQS Management LLC acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,604 shares of the company’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Activest Wealth Management increased its stake 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 purchasing an additional 497 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake 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 purchasing an additional 468 shares in the last quarter. JFS Wealth Advisors LLC increased its stake 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 purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC increased its stake 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 purchasing an additional 300 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Baker Hughes during the 3rd quarter valued at about $65,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $66.06 on Friday. The firm’s 50-day moving average price is $62.80 and its 200-day moving average price is $56.18. 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 company has a market cap of $65.54 billion, a PE ratio of 21.11, a PEG ratio of 2.34 and a beta of 0.97. Baker Hughes Company has a 52-week low of $36.03 and a 52-week high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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 firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. As a group, analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Dividend Announcement

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 $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Analysts Set New Price Targets

A number of analysts have weighed in on BKR shares. 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 note on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. TD Cowen raised their price target on shares of Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Evercore reaffirmed an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a report 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.41.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 550,250 shares of company stock worth $32,988,331. 0.19% of the stock is currently owned by insiders.

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.