Amitell Capital Pte Ltd Lowers Position in Baker Hughes Company $BKR

Amitell Capital Pte Ltd trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 34.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,099 shares of the company’s stock after selling 22,201 shares during the quarter. Amitell Capital Pte Ltd’s holdings in Baker Hughes were worth $2,100,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brandywine Global Investment Management LLC lifted its position in Baker Hughes by 8.2% during the second 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 period. Synergy Asset Management LLC purchased a new stake in Baker Hughes during the 3rd quarter valued at $1,920,000. Cibc World Market Inc. raised its stake in Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after buying an additional 99,314 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Baker Hughes by 8.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock worth $69,026,000 after buying an additional 144,381 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore reiterated an “outperform” rating and set a $68.00 price objective on shares of Baker Hughes in a research report on Wednesday, February 11th. UBS Group upped their price target on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. TD Cowen boosted their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Finally, BMO Capital Markets increased their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research 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.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $59.39.

Insider Transactions at Baker Hughes

In related news, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was 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 is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the transaction, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,001 shares of company stock valued at $2,322,692 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $64.81 on Thursday. The company has a 50 day simple moving average of $53.69 and a two-hundred day simple moving average of $49.35. 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 firm has a market cap of $64.05 billion, a P/E ratio of 24.93, a PEG ratio of 1.74 and a beta of 0.89. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $65.48.

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. Equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s payout ratio is presently 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.