WCG Wealth Advisors LLC Buys New Stake in Baker Hughes Company $BKR

WCG Wealth Advisors LLC purchased a new position in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 97,377 shares of the company’s stock, valued at approximately $4,435,000.

Other institutional investors have also bought and sold shares of the company. Krilogy Financial LLC increased its holdings in shares of Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after buying an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in shares of Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after acquiring an additional 203 shares during the last quarter. Formidable Asset Management LLC grew its position in Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after acquiring an additional 225 shares in the last quarter. CoreCap Advisors LLC grew its position in Baker Hughes by 16.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after acquiring an additional 228 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in Baker Hughes by 16.1% during the fourth quarter. Root Financial Partners LLC now owns 1,756 shares of the company’s stock worth $80,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 282,745 shares of company stock worth $16,651,472 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $66.11 on Friday. Baker Hughes Company has a twelve month low of $37.08 and a twelve month high of $70.41. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.29 and a beta of 0.93. The business’s fifty day simple moving average is $63.91 and its two-hundred day simple moving average is $57.31. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. Analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

Analysts Set New Price Targets

BKR has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Baker Hughes in a research note on Sunday, April 26th. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Susquehanna increased their price target on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a report on Monday, April 27th. Johnson Rice began coverage on Baker Hughes in a research report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target for the company. Finally, UBS Group lifted their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.14.

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.