Focus Partners Advisor Solutions LLC Takes Position in Baker Hughes Company $BKR

Focus Partners Advisor Solutions LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKRFree 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 (NASDAQ:BKRGet Free Report) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share 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 business 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 business earned $0.70 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

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:

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

(Free Report)

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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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