Czech National Bank Purchases 9,804 Shares of Baker Hughes Company $BKR

Czech National Bank boosted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,197 shares of the company’s stock after buying an additional 9,804 shares during the period. Czech National Bank’s holdings in Baker Hughes were worth $11,849,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BKR. Activest Wealth Management boosted its position in shares of 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 acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Baker Hughes during the second quarter valued at approximately $36,000. Spire Wealth Management lifted its stake in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after purchasing an additional 798 shares during the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake 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 purchasing an additional 416 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent analyst reports. Zephirin Group lifted their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Piper Sandler upped their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Evercore reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of Baker Hughes in a research note on Wednesday, February 11th. Citigroup lifted their target price on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday. Twenty investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Stock Up 1.4%

Shares of BKR opened at $63.22 on Friday. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $67.00. The stock has a market capitalization of $62.48 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.69 and a beta of 0.83. 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 fifty day moving average of $59.44 and a 200-day moving average of $51.81.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share 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 business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the company posted $0.70 EPS. Baker Hughes’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s payout ratio is 35.38%.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the transaction, the chief accounting officer owned 14,019 shares of the company’s stock, valued at $789,830.46. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by company insiders.

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.