Gradient Investments LLC Lowers Position in Baker Hughes Company $BKR

Gradient Investments LLC trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,399 shares of the company’s stock after selling 14,322 shares during the quarter. Gradient Investments LLC’s holdings in Baker Hughes were worth $20,830,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BKR. Activest Wealth Management increased its position in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after buying an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at approximately $36,000. Spire Wealth Management boosted its stake in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after buying an additional 798 shares in the last quarter. Finally, N.E.W. Advisory Services LLC grew its holdings in Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after acquiring an additional 416 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BKR. Zephirin Group increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Capital One Financial upped their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Susquehanna raised their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Citigroup increased their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two 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 $59.61.

Baker Hughes Trading Down 0.6%

Shares of Baker Hughes stock opened at $60.35 on Monday. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. 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 has a 50 day moving average price of $58.17 and a 200 day moving average price of $51.29. The company has a market capitalization of $59.64 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.63 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given 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 was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

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.