Fore Capital LLC Makes New $592,000 Investment in Baker Hughes Company $BKR

Fore Capital LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, HoldingsChannel.com reports. The firm bought 13,000 shares of the company’s stock, valued at approximately $592,000. Baker Hughes accounts for approximately 0.2% of Fore Capital LLC’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors also recently bought and sold shares of BKR. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter worth $1,022,491,000. Capital International Investors purchased a new stake in shares of Baker Hughes in the third quarter valued at $729,670,000. Bessemer Group Inc. lifted its position in shares of Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after acquiring an additional 3,464,637 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at $144,262,000. Finally, Capital World Investors lifted its position in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research 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. Capital One Financial upped their price objective on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Susquehanna upped their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Insider Activity at Baker Hughes

In related news, 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 completion of the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 282,745 shares of company stock worth $16,651,472. 0.19% of the stock is currently owned by insiders.

Baker Hughes Stock Performance

Baker Hughes stock opened at $66.11 on Friday. The firm has a market capitalization of $65.59 billion, a P/E ratio of 21.12, a PEG ratio of 2.29 and a beta of 0.93. The stock has a fifty day moving average price of $63.91 and a 200 day moving average price of $57.31. Baker Hughes Company has a 52 week low of $37.08 and a 52 week high of $70.41. 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 released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. Equities research analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

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.