Erste Asset Management GmbH Boosts Stock Position in Baker Hughes Company $BKR

Erste Asset Management GmbH raised its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 32.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,100 shares of the company’s stock after acquiring an additional 9,800 shares during the period. Erste Asset Management GmbH’s holdings in Baker Hughes were worth $1,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its position in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the period. JFS Wealth Advisors LLC increased its position in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Wolff Wiese Magana LLC increased its position in Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares during the period. Manchester Capital Management LLC increased its position in Baker Hughes by 35.9% during the 4th quarter. Manchester Capital Management LLC now owns 1,370 shares of the company’s stock worth $62,000 after purchasing an additional 362 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its position in Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. HSBC boosted their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Citigroup dropped their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Susquehanna boosted their target price on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Finally, Johnson Rice assumed coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $69.14.

Baker Hughes Stock Performance

BKR opened at $63.55 on Wednesday. The stock has a market cap of $63.05 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $63.96 and its 200 day simple moving average is $57.63. Baker Hughes Company has a 1-year low of $37.38 and a 1-year high of $70.41.

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

Baker Hughes Announces Dividend

The company also recently declared 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 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 is currently 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by corporate insiders.

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.