16,044 Shares in Baker Hughes Company $BKR Bought by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new position in Baker Hughes in the fourth quarter, buying 16,044 shares valued at about $731,000.
• Analysts remain broadly bullish on BKR, with multiple firms raising price targets; the stock currently has a Moderate Buy consensus and an average target price of $69.41.
• Baker Hughes reported quarterly EPS of $0.58, beating estimates, while revenue came in at $6.59 billion, slightly below expectations. The company also paid a quarterly dividend of $0.23 per share, equal to a 1.4% yield.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,044 shares of the company's stock, valued at approximately $731,000.

Several other hedge funds have also bought and sold shares of the stock. Krilogy Financial LLC lifted its stake in 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 purchasing an additional 180 shares in the last quarter. Formidable Asset Management LLC lifted its stake in Baker Hughes by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock worth $358,000 after purchasing an additional 225 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Baker Hughes by 16.4% in the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock worth $74,000 after purchasing an additional 228 shares in the last quarter. AMG National Trust Bank lifted its stake in Baker Hughes by 3.7% in the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company's stock worth $333,000 after purchasing an additional 246 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on BKR shares. Evercore reiterated an "outperform" rating and issued a $76.00 price target on shares of Baker Hughes in a research note on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $80.00 price target on shares of Baker Hughes in a research note on Sunday, April 26th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Baker Hughes from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Finally, Piper Sandler upped their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Eighteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus target price of $69.41.

Insider Activity

In related news, insider Maria Georgia Magno sold 5,063 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 550,250 shares of company stock worth $32,988,331 over the last quarter. 0.19% of the stock is currently owned by insiders.

Baker Hughes Stock Up 0.4%

Shares of NASDAQ BKR opened at $66.06 on Friday. The firm's 50-day moving average price is $62.80 and its 200-day moving average price is $56.18. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $65.54 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.35 and a beta of 0.97. Baker Hughes Company has a 12-month low of $36.03 and a 12-month high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 11.17% and a return on equity of 14.17%. The business's revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, equities research analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.

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.

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