Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stock Holdings in Baker Hughes Company $BKR

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Baker Hughes Company (NASDAQ:BKR) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,630 shares of the company’s stock after buying an additional 13,038 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Baker Hughes were worth $5,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Norges Bank purchased a new stake in shares of Baker Hughes during the second quarter worth about $862,722,000. First Trust Advisors LP boosted its stake in Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after purchasing an additional 3,203,942 shares during the period. Sei Investments Co. grew its holdings in Baker Hughes by 247.5% during the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after buying an additional 2,232,394 shares in the last quarter. American Century Companies Inc. raised its position in shares of Baker Hughes by 38.0% during the second quarter. American Century Companies Inc. now owns 7,602,803 shares of the company’s stock valued at $291,492,000 after buying an additional 2,094,079 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after buying an additional 2,044,402 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 40,001 shares of company stock valued at $2,322,692. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Capital One Financial lifted their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Argus raised their price target on Baker Hughes from $55.00 to $67.00 in a report on Tuesday, January 27th. Finally, UBS Group upped their price objective on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Nineteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Baker Hughes Trading Down 0.6%

Shares of NASDAQ BKR opened at $62.21 on Friday. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $62.75. 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 business’s 50 day moving average is $52.57 and its two-hundred day moving average is $48.91. The stock has a market capitalization of $61.48 billion, a P/E ratio of 23.93, a PEG ratio of 1.67 and a beta of 0.89.

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

Baker Hughes Announces Dividend

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

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.