B. Riley Wealth Advisors Inc. Makes New $598,000 Investment in Baker Hughes Company $BKR

B. Riley Wealth Advisors Inc. bought a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,607 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors also recently modified their holdings of the stock. Brandywine Global Investment Management LLC lifted its stake in shares of Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Baker Hughes by 0.6% during the second quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock worth $55,607,000 after buying an additional 8,994 shares during the last quarter. Cardano Risk Management B.V. raised its stake in Baker Hughes by 20.4% during the 2nd quarter. Cardano Risk Management B.V. now owns 4,949,808 shares of the company’s stock valued at $189,776,000 after purchasing an additional 838,333 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Baker Hughes by 422.3% in the second quarter. Empowered Funds LLC now owns 289,951 shares of the company’s stock valued at $11,117,000 after buying an additional 234,440 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Baker Hughes by 8.7% during the second quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock valued at $69,026,000 after purchasing an additional 144,381 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BKR. Royal Bank Of Canada upped their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Susquehanna lifted their price objective on Baker Hughes from $52.00 to $56.00 and gave the stock a “positive” rating in a research report on Thursday, October 2nd. Melius Research started coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup lifted their price objective on shares of Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Jefferies Financial Group raised their price target on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.92.

Insider Transactions at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by insiders.

Baker Hughes Stock Down 4.0%

BKR stock opened at $45.02 on Wednesday. The stock has a market capitalization of $44.42 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $47.77 and a 200-day moving average price of $44.69. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s payout ratio is 31.72%.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.