42,966 Shares in Baker Hughes Company $BKR Purchased by iSAM Funds UK Ltd

Key Points

• iSAM Funds UK Ltd acquired a new stake of 42,966 shares in Baker Hughes (NASDAQ: BKR) during the third quarter, valued at approximately $2.09 million per its latest 13F filing.
• CEO Lorenzo Simonelli sold 272,594 shares for about $16.03 million on March 11, and insiders have sold a total of 590,251 shares (≈$35.3M) in the past 90 days, signaling notable insider selling.
• Baker Hughes posted an earnings beat with $0.78 EPS vs. $0.67 expected and $7.39B revenue vs. $7.09B expected, and Wall Street consensus rates the stock a "Moderate Buy" with an average price target of $59.61.

iSAM Funds UK Ltd acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,966 shares of the company's stock, valued at approximately $2,093,000.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its position in Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock worth $32,000 after buying an additional 337 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Baker Hughes during the second quarter worth $36,000. Rothschild Investment LLC boosted its stake in Baker Hughes by 66.6% during the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company's stock worth $48,000 after buying an additional 496 shares during the period. Finally, Spire Wealth Management increased its position in Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after acquiring an additional 798 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Trading Down 2.9%

BKR stock opened at $54.26 on Friday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $67.00. The firm's 50-day moving average is $57.31 and its 200 day moving average is $50.75. The company has a market capitalization of $53.62 billion, a PE ratio of 20.87, a P/E/G ratio of 1.51 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. On average, research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes's payout ratio is presently 35.38%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,985 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the sale, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. This represents a 14.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock worth $35,311,023 in the last ninety days. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BKR shares. Barclays raised their target price on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, January 27th. Argus raised their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. TD Cowen boosted their target price on Baker Hughes from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Stifel Nicolaus upped their target price on Baker Hughes from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $59.61.

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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