Focus Partners Advisor Solutions LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,873 shares of the company’s stock, valued at approximately $579,000.
A number of other hedge funds also recently modified their holdings of the company. Woodline Partners LP lifted its position in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth boosted its holdings in shares of Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of Baker Hughes during the second quarter worth $359,000. Atlantic Union Bankshares Corp acquired a new position in Baker Hughes during the 2nd quarter worth about $804,000. Finally, Metis Global Partners LLC lifted its position in shares of Baker Hughes by 6.5% during the second quarter. Metis Global Partners LLC now owns 85,734 shares of the company’s stock worth $3,287,000 after purchasing an additional 5,232 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Baker Hughes Trading Down 0.6%
Baker Hughes stock opened at $59.81 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $59.11 billion, a P/E ratio of 23.00, a PEG ratio of 1.62 and a beta of 0.83. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. The stock has a 50-day simple moving average of $56.13 and a 200 day simple moving average of $50.37.
Baker Hughes Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on BKR shares. Piper Sandler upped their price target on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Argus lifted their price target on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. iA Financial set a $60.00 price objective on Baker Hughes in a research report 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 note on Monday, February 2nd. Finally, Jefferies Financial Group upped their price target on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Saturday, January 31st. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $59.61.
Check Out Our Latest Research Report on Baker Hughes
Baker Hughes News Summary
Here are the key news stories impacting Baker Hughes this week:
- Positive Sentiment: Baker Hughes’ weekly rig count showed U.S. drillers added oil and gas rigs for the first time in four weeks, a sign of improving activity that supports demand for BKR’s services. US drillers add oil, gas rigs for first time in four weeks, Baker Hughes says
- Positive Sentiment: Baker Hughes successfully priced $6.5B of U.S. senior notes and €3B of euro notes across multiple maturities; the sales show investor demand and provide cash to help fund the Chart Industries takeover. Baker Hughes Successfully Prices $6.5 Billion and €3 Billion Offerings of Senior Notes
- Positive Sentiment: At least one sell-side note expects upside for BKR, providing support to the equity narrative. Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says
- Positive Sentiment: Widening geopolitical risk after the death of Iran’s Supreme Leader is reshaping energy markets; higher oil-price risk can boost activity and service revenues over time. The Iran War Is Reshaping Energy Markets and These Stocks Win Big
- Neutral Sentiment: Earlier media reports said Baker Hughes planned a ~$10B cross-border bond sale to help finance the Chart acquisition—this was a precursor to the priced notes and mostly confirms the financing plan. Baker Hughes Plans $10 Billion Bond Sale to Finance Chart Industries Acquisition
- Neutral Sentiment: Reported short-interest figures are showing zero shares (likely a data/ reporting artifact) and are not informative for current positioning. (Data entry)
- Negative Sentiment: CEO Lorenzo Simonelli sold 272,593 shares (~$16.7M) on March 4, reducing his stake by ~29% — a large insider sale that can weigh on sentiment. SEC filing: SEC Form 4
- Negative Sentiment: Multiple other recent insider sales are documented (Quiver summary), which may amplify investor concern about insider liquidity and timing around the Chart acquisition. Quiver: Debt offerings and insider activity
Insider Transactions at Baker Hughes
In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lorenzo Simonelli sold 272,593 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total transaction of $16,663,610.09. Following the completion of the sale, the chief executive officer directly owned 672,810 shares of the company’s stock, valued at approximately $41,128,875.30. The trade was a 28.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 312,594 shares of company stock valued at $18,986,302. Company insiders own 0.27% of the company’s stock.
Baker Hughes 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.
Recommended Stories
- Five stocks we like better than Baker Hughes
- The gold chart Wall Street is terrified of…
- America’s 1776 happening again
- What a Former CIA Agent Knows About the Coming Collapse
- Elon Musk already made me a “wealthy man”
- Unlocked: Elon Musk’s Next Big IPO
Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR – Free Report).
Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.
