Fieldview Capital Management LLC Lowers Position in Baker Hughes Company $BKR

Fieldview Capital Management LLC cut its holdings in Baker Hughes Company (NASDAQ:BKR) by 52.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,785 shares of the company’s stock after selling 15,041 shares during the quarter. Fieldview Capital Management LLC’s holdings in Baker Hughes were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BKR. Cullen Frost Bankers Inc. lifted its stake in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the period. Quarry LP purchased a new stake in Baker Hughes in the fourth quarter worth about $31,000. Acumen Wealth Advisors LLC purchased a new stake in Baker Hughes in the fourth quarter worth about $35,000. Golden State Wealth Management LLC lifted its stake in Baker Hughes by 786.5% in the fourth quarter. Golden State Wealth Management LLC now owns 789 shares of the company’s stock worth $36,000 after acquiring an additional 700 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after acquiring an additional 252 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $62.46 on Tuesday. The company has a market capitalization of $61.96 billion, a PE ratio of 19.96, a P/E/G ratio of 2.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a 50-day simple moving average of $64.16 and a two-hundred day simple moving average of $58.03. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41.

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

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s payout ratio is currently 29.39%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BKR. UBS Group upped 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. BMO Capital Markets upped their price objective on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. TD Cowen upped their price objective on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Argus boosted their target price on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a report on Sunday, April 26th. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Company 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.