Sanctuary Advisors LLC lifted its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,473 shares of the company's stock after purchasing an additional 20,033 shares during the period. Sanctuary Advisors LLC's holdings in Baker Hughes were worth $2,207,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BKR. Capital International Investors acquired a new stake in shares of Baker Hughes during the third quarter worth about $729,670,000. Capital World Investors increased its position in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company's stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. First Trust Advisors LP increased its position in shares of Baker Hughes by 25.7% during the third quarter. First Trust Advisors LP now owns 9,325,417 shares of the company's stock worth $454,334,000 after purchasing an additional 1,906,384 shares in the last quarter. Capital Research Global Investors increased its position in shares of Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company's stock worth $1,262,033,000 after purchasing an additional 1,728,016 shares in the last quarter. Finally, Merewether Investment Management LP increased its position in shares of Baker Hughes by 359.7% during the third quarter. Merewether Investment Management LP now owns 2,165,846 shares of the company's stock worth $105,520,000 after purchasing an additional 1,694,700 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.
Baker Hughes Stock Performance
NASDAQ BKR opened at $69.12 on Friday. 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 price is $61.92 and its 200 day moving average price is $54.35. The firm has a market cap of $68.57 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.42 and a beta of 0.97.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company posted $0.51 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that Baker Hughes Company will post 2.32 earnings per share for the current year.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. Baker Hughes's dividend payout ratio (DPR) is currently 29.39%.
Insider Buying and Selling
In other news, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares of the company's stock, valued at approximately $862,296.68. This represents a 56.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 12,052 shares of the company's stock, valued at approximately $672,140.04. This trade represents a 14.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 590,251 shares of company stock worth $35,311,023. Corporate insiders own 0.19% of the company's stock.
Analyst Ratings Changes
BKR has been the topic of a number of research analyst reports. Johnson Rice initiated coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a "buy" rating and a $68.00 target price on the stock. Barclays lifted their target price on Baker Hughes from $57.00 to $62.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Royal Bank Of Canada lifted their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $80.00 price target on shares of Baker Hughes in a report on Sunday, April 26th. Nineteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.64.
Check Out Our Latest Research Report on BKR
About Baker Hughes
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Free Report)
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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