Baker Hughes Company $BKR Shares Acquired by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors increased its Baker Hughes stake by 85.6% in the second quarter, ending the period with 41,086 shares valued at approximately $2.28 million. Institutional investors collectively own 92.06% of the company.
• Baker Hughes exceeded quarterly expectations, reporting $0.64 in earnings per share on $6.74 billion in revenue, while revenue rose 2.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $69.95.
• Insiders sold 367,910 shares worth about $22.42 million over the past 90 days, including CEO Lorenzo Simonelli’s sale of 181,411 shares. The company also declared a quarterly dividend of $0.23 per share, representing a 1.5% annualized yield.

180 Wealth Advisors LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 85.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,086 shares of the company's stock after buying an additional 18,949 shares during the period. 180 Wealth Advisors LLC's holdings in Baker Hughes were worth $2,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. EFG International AG bought a new position in shares of Baker Hughes in the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. lifted its position in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after purchasing an additional 468 shares during the period. Quarry LP bought a new position in Baker Hughes during the 4th quarter valued at $31,000. MV Capital Management Inc. bought a new position in Baker Hughes during the 4th quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Baker Hughes during the 4th quarter valued at $35,000. Institutional investors own 92.06% of the company's stock.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 367,910 shares of company stock worth $22,420,797. Corporate insiders own 0.19% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $61.67 on Thursday. Baker Hughes Company has a one year low of $41.96 and a one year high of $70.41. The stock has a fifty day moving average of $59.12 and a 200-day moving average of $60.57. The company has a market capitalization of $61.22 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.During the same period last year, the company posted $0.63 EPS. The company's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes Company will post 2.46 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes's dividend payout ratio (DPR) is currently 29.68%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BKR. BMO Capital Markets boosted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Piper Sandler lifted their target price on Baker Hughes from $71.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. TD Cowen boosted their price target on shares of Baker Hughes from $77.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Baker Hughes from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Wolfe Research initiated coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They set an "outperform" rating and a $70.00 price objective for the company. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $69.95.

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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