Baker Hughes Company $BKR Shares Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its Baker Hughes stake by 37.5% in the fourth quarter, buying 477,652 additional shares and bringing its holding to 1,749,697 shares valued at about $79.7 million.
• Wall Street sentiment remains positive: several firms recently raised price targets, and the stock now has a consensus “Moderate Buy” rating with an average target of $69.18.
• Baker Hughes reported quarterly EPS of $0.58, topping estimates, while revenue came in slightly below expectations at $6.59 billion; the company also paid a quarterly dividend of $0.23 per share.

ProShare Advisors LLC lifted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 37.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,749,697 shares of the company's stock after purchasing an additional 477,652 shares during the period. ProShare Advisors LLC owned 0.18% of Baker Hughes worth $79,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% during 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 last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 45.1% during 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 during the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Baker Hughes during the 3rd quarter worth approximately $65,000. Finally, Hilltop National Bank raised its position in shares of Baker Hughes by 26.7% during the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company's stock valued at $65,000 after buying an additional 300 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKR. Piper Sandler lifted their price target 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. UBS Group lifted their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. BMO Capital Markets lifted their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.18.

Baker Hughes Stock Down 1.1%

Shares of NASDAQ BKR opened at $65.47 on Wednesday. The firm has a market cap of $64.95 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.41 and a beta of 0.97. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 52-week low of $35.83 and a 52-week high of $70.41. The business's 50 day moving average is $62.39 and its two-hundred day moving average is $55.86.

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 analysts' consensus estimates 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 firm's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 earnings per share. Research analysts predict that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Dividend Announcement

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

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 866,444 shares of the company's stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. The trade was a 24.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 550,250 shares of company stock worth $32,988,331. 0.19% of the stock is owned by corporate insiders.

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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