Wealth High Governance Asset Management Ltda. Makes New $1.81 Million Investment in Baker Hughes Company $BKR

Wealth High Governance Asset Management Ltda. purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 29,704 shares of the company’s stock, valued at approximately $1,813,000.

A number of other large investors have also bought and sold shares of the company. EFG International AG purchased a new stake in Baker Hughes in the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. increased its holdings 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 acquiring an additional 468 shares during the period. Quarry LP bought a new position in shares of Baker Hughes in the fourth quarter worth $31,000. MV Capital Management Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $35,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research reports. Evercore restated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research report on Monday, April 27th. Barclays lowered their price target on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. UBS Group set a $51.00 target price on shares of Baker Hughes in a research note on Tuesday, July 28th. Finally, Susquehanna lifted their price target on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research report on Tuesday, July 28th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.95.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Baker Hughes stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. 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 90 days. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

Shares of BKR stock opened at $60.49 on Monday. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 52 week low of $41.96 and a 52 week high of $70.41. The firm has a market capitalization of $60.05 billion, a PE ratio of 19.51, a P/E/G ratio of 1.92 and a beta of 0.97. The company has a 50 day moving average price of $59.36 and a 200-day moving average price of $60.33.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, equities research analysts expect that Baker Hughes Company will post 2.46 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s dividend payout ratio is currently 29.68%.

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.