23,044 Shares in Baker Hughes Company $BKR Purchased by DUTCH ASSET Corp

DUTCH ASSET Corp acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, Holdings Channel reports. The firm acquired 23,044 shares of the company’s stock, valued at approximately $1,049,000. Baker Hughes makes up approximately 0.8% of DUTCH ASSET Corp’s investment portfolio, making the stock its 29th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. EFG International AG purchased a new position in shares of Baker Hughes during the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. raised its stake in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares in the last quarter. Quarry LP purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $31,000. MV Capital Management Inc. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $34,000. Finally, Acumen Wealth Advisors LLC bought a new position in Baker Hughes in the fourth quarter worth approximately $35,000. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the transaction, the chief executive officer owned 784,944 shares in the company, valued at $49,734,051.84. The trade was a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% 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. 0.19% of the stock is owned by company insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $58.41 on Friday. The business has a fifty day moving average of $64.02 and a two-hundred day moving average of $58.25. 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 firm has a market cap of $57.95 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.08 and a beta of 0.93. Baker Hughes Company has a twelve month low of $37.38 and a twelve month 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. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business posted $0.51 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Wall Street Analyst Weigh In

Several research analysts have commented on BKR shares. Royal Bank Of Canada raised their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. BMO Capital Markets lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Argus upped their price objective on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

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.