Capital World Investors Grows Position in Baker Hughes Company $BKR

Capital World Investors increased its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,546,388 shares of the company’s stock after purchasing an additional 3,153,709 shares during the quarter. Capital World Investors owned approximately 4.82% of Baker Hughes worth $2,316,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brandywine Global Investment Management LLC raised its position in shares of Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after purchasing an additional 49,108 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Baker Hughes during the 3rd quarter valued at $1,920,000. Cibc World Market Inc. boosted its position in Baker Hughes by 13.6% in the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Baker Hughes by 10,225.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock valued at $41,391,000 after acquiring an additional 841,338 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BKR. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Barclays boosted their price target on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. UBS Group boosted their target price on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Susquehanna increased their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. Finally, Citigroup increased their target price on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Price Performance

NASDAQ BKR opened at $60.10 on Tuesday. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The company has a market cap of $59.39 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.62 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The stock’s fifty day moving average price is $56.42 and its 200 day moving average price is $50.49.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s payout ratio is presently 35.38%.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 272,593 shares of Baker Hughes stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $61.13, for a total transaction of $16,663,610.09. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the sale, the chief accounting officer owned 14,019 shares in the company, valued at $789,830.46. This represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 312,594 shares of company stock worth $18,986,302 in the last three months. Company insiders own 0.27% of the company’s stock.

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.