Public Employees Retirement System of Ohio Purchases New Stake in Baker Hughes Company $BKR

Public Employees Retirement System of Ohio purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 293,904 shares of the company’s stock, valued at approximately $16,312,000.

Several other institutional investors have also recently bought and sold shares of the business. Bleakley Financial Group LLC grew its holdings in shares of Baker Hughes by 0.6% during the first quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after buying an additional 163 shares during the last quarter. Resolute Wealth Strategies LLC raised its holdings in shares of Baker Hughes by 2.7% in the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after acquiring an additional 172 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of 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 during the last quarter. 3Chopt Investment Partners LLC lifted its position in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after acquiring an additional 203 shares in the last quarter. Finally, Evolve Private Wealth LLC boosted its stake in Baker Hughes by 2.4% during the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock valued at $529,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value 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 $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction 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 completion of the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 367,910 shares of company stock valued at $22,420,797 over the last quarter. 0.19% of the stock is owned by company insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $62.41 on Friday. The business’s 50 day simple moving average is $59.26 and its 200 day simple moving average is $61.45. Baker Hughes Company has a 12 month low of $43.92 and a 12 month high of $70.41. The company has a market cap of $61.95 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.94 and a beta of 0.97. 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 (NASDAQ:BKR) last posted its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Baker Hughes Company will post 2.51 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 7th. Baker Hughes’s payout ratio is currently 29.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BKR. Stifel Nicolaus increased their price objective on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Susquehanna lifted their target price on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada upped their price target on Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup increased their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Barclays dropped their price objective on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.67.

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.