13,769 Shares in Baker Hughes Company (NASDAQ:BKR) Purchased by Roberts Capital Advisors LLC

Key Points

• Roberts Capital Advisors LLC purchased 13,769 shares of Baker Hughes Company (NASDAQ:BKR) valued at approximately $605,000, marking a significant acquisition during the first quarter.
• Baker Hughes recently reported earnings of $0.63 per share, surpassing consensus estimates of $0.55, and generated revenue of $6.91 billion, exceeding expectations of $6.64 billion.
• The company's CEO, Lorenzo Simonelli, sold 526,568 shares, a move that reduced his ownership in the company by 44.10%, while institutional investors now own 92.06% of Baker Hughes stock.

Roberts Capital Advisors LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,769 shares of the company's stock, valued at approximately $605,000.

Several other hedge funds have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Baker Hughes in the first quarter worth approximately $404,385,000. Pacer Advisors Inc. lifted its stake in shares of Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock worth $169,511,000 after buying an additional 3,713,301 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Baker Hughes in the fourth quarter worth approximately $128,542,000. Northern Trust Corp lifted its stake in shares of Baker Hughes by 18.4% in the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock worth $410,231,000 after buying an additional 1,553,536 shares in the last quarter. Finally, J. Safra Sarasin Holding AG lifted its stake in shares of Baker Hughes by 1,170.8% in the fourth quarter. J. Safra Sarasin Holding AG now owns 1,290,044 shares of the company's stock worth $52,918,000 after buying an additional 1,188,529 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by company insiders.

Baker Hughes Stock Performance

BKR opened at $42.80 on Friday. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.97 and a beta of 0.94. The company has a fifty day moving average of $40.90 and a 200 day moving average of $40.84. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the company posted $0.57 earnings per share. Baker Hughes's quarterly revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BKR. The Goldman Sachs Group dropped their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. BMO Capital Markets reissued an "outperform" rating and set a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Evercore ISI boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

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