24,600 Shares in Baker Hughes Company $BKR Acquired by Fideuram Asset Management Ireland dac

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Baker Hughes during the fourth quarter, buying 24,600 shares valued at about $1.08 million.
• Baker Hughes reported better-than-expected adjusted earnings of $0.58 per share for the quarter, though revenue of $6.59 billion came in slightly below estimates.
• Analysts remain broadly upbeat on the stock, with several raising price targets and the consensus rating at Moderate Buy; the average price target is $69.41.

Fideuram Asset Management Ireland dac bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,600 shares of the company's stock, valued at approximately $1,083,000.

A number of other large investors have also recently made changes to their positions in the company. Krilogy Financial LLC increased its stake in shares of Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock worth $261,000 after buying an additional 180 shares during the period. Formidable Asset Management LLC increased its holdings in Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock valued at $358,000 after buying an additional 225 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Baker Hughes by 16.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock valued at $74,000 after buying an additional 228 shares during the last quarter. AMG National Trust Bank increased its holdings in Baker Hughes by 3.7% in the third quarter. AMG National Trust Bank now owns 6,831 shares of the company's stock valued at $333,000 after buying an additional 246 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after buying an additional 252 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $63.88 on Friday. The stock's 50-day moving average is $63.69 and its two-hundred day moving average is $56.79. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.30 and a beta of 0.97. Baker Hughes Company has a 1 year low of $36.53 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. Analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts recently commented on BKR shares. TD Cowen increased their target price on Baker Hughes from $64.00 to $75.00 and gave the company a "buy" rating in a report on Monday, April 27th. Capital One Financial increased their target price on Baker Hughes from $66.00 to $71.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on Baker Hughes from $60.00 to $74.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Susquehanna increased their target price on Baker Hughes from $70.00 to $80.00 and gave the company a "positive" rating in a report on Monday, April 27th. Finally, Stifel Nicolaus increased their target price on Baker Hughes from $63.00 to $74.00 and gave the company a "buy" rating in a report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.41.

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.

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