256,927 Shares in Baker Hughes Company $BKR Purchased by Capital International Inc. CA

Capital International Inc. CA acquired a new stake in Baker Hughes Company (NASDAQ:BKR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 256,927 shares of the company’s stock, valued at approximately $12,517,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AMG National Trust Bank raised its position in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after acquiring an additional 246 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Baker Hughes by 1.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock valued at $959,000 after purchasing an additional 257 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Baker Hughes by 4.4% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock worth $306,000 after purchasing an additional 264 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Baker Hughes by 4.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock worth $260,000 after purchasing an additional 275 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the completion of the sale, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 272,593 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 672,810 shares in the company, valued at $41,128,875.30. The trade was a 28.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 312,594 shares of company stock valued at $18,986,302. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BKR shares. iA Financial set a $60.00 target price on Baker Hughes in a research note on Tuesday, January 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Thursday, January 15th. Jefferies Financial Group boosted their price target on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Saturday, January 31st. Zephirin Group increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, TD Cowen lifted their price objective on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” 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 stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $59.61.

Baker Hughes Stock Down 1.3%

Shares of NASDAQ BKR opened at $59.34 on Wednesday. The stock has a market capitalization of $58.64 billion, a PE ratio of 22.82, a P/E/G ratio of 1.63 and a beta of 0.83. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $56.69 and a 200-day moving average of $50.59. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $67.00.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 period last year, the company posted $0.70 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Baker Hughes Company will post 2.59 EPS 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 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.