Baker Hughes Company $BKR Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 152.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,817 shares of the company's stock after purchasing an additional 90,427 shares during the period. NewEdge Advisors LLC's holdings in Baker Hughes were worth $8,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. EFG International AG acquired a new position in Baker Hughes during the 4th quarter valued at approximately $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock valued at $27,000 after acquiring an additional 468 shares during the period. Meeder Asset Management Inc. grew its position in shares of Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company's stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Quarry LP acquired a new stake in shares of Baker Hughes in the 4th quarter worth about $31,000. Finally, Jones Financial Companies Lllp bought a new stake in Baker Hughes in the 2nd quarter valued at about $39,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $59.06 on Friday. The stock has a market cap of $58.63 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. Baker Hughes Company has a 12 month low of $43.92 and a 12 month high of $70.41. The stock's 50 day moving average price is $60.65 and its 200 day moving average price is $61.58.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Equities research analysts anticipate that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's payout ratio is currently 29.68%.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BKR has been the topic of several analyst reports. Wall Street Zen lowered shares of Baker Hughes from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Capital One Financial raised their target price on Baker Hughes from $66.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, May 21st. Stifel Nicolaus lifted their target price on Baker Hughes from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. UBS Group reduced their price target on Baker Hughes from $71.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada raised their price target on Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.71.

About Baker Hughes

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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