Caprock Group LLC Acquires Shares of 28,944 Baker Hughes Company $BKR

Caprock Group LLC bought a new position in Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,944 shares of the company’s stock, valued at approximately $1,314,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Baker Hughes by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 123,291,916 shares of the company’s stock worth $4,727,012,000 after acquiring an additional 1,173,700 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after purchasing an additional 397,984 shares during the last quarter. Norges Bank bought a new position in shares of Baker Hughes during the second quarter valued at $862,722,000. Artisan Partners Limited Partnership boosted its position in shares of Baker Hughes by 1.0% during the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after buying an additional 167,095 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Baker Hughes by 18.9% in the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock worth $492,076,000 after buying an additional 2,044,402 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity

In related news, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,001 shares of company stock worth $2,322,692 over the last quarter. Insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $61.20 on Friday. The firm’s 50 day simple moving average is $51.17 and its two-hundred day simple moving average is $48.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market capitalization of $60.39 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $62.27.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. iA Financial set a $60.00 price target on shares of Baker Hughes in a research note on Tuesday, January 27th. Capital One Financial lifted their target price on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Monday, December 29th. Susquehanna raised their price target on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.78.

About Baker Hughes

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.