Pathway Financial Advisers LLC Takes $907,000 Position in Baker Hughes Company $BKR

Pathway Financial Advisers LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, Holdings Channel.com reports. The fund acquired 14,863 shares of the company’s stock, valued at approximately $907,000.

A number of other large investors have also recently bought and sold shares of BKR. EFG International AG acquired a new position in shares of Baker Hughes in the fourth quarter worth $26,000. Cullen Frost Bankers Inc. increased its position in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares in the last quarter. Quarry LP purchased a new stake in Baker Hughes during the 4th quarter worth about $31,000. MV Capital Management Inc. acquired a new position in Baker Hughes in the 4th quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC acquired a new position in Baker Hughes in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.4%

Shares of NASDAQ BKR opened at $56.31 on Tuesday. The stock has a market capitalization of $55.86 billion, a PE ratio of 17.99, a P/E/G ratio of 2.04 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average of $63.48 and a 200-day moving average of $58.65. Baker Hughes Company has a 52-week low of $37.69 and a 52-week high of $70.41.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Baker Hughes Company will post 2.28 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s payout ratio is presently 29.39%.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 in the last quarter. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BKR. HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. TD Cowen raised their target price on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. UBS Group increased their price target on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock 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.