Baker Hughes Company (NASDAQ:BKR) Shares Bought by Sheaff Brock Investment Advisors LLC

Key Points

• Sheaff Brock Investment Advisors LLC increased its stake in Baker Hughes Company by 5.1%, bringing its total holdings to 199,546 shares valued at approximately $8.77 million.
• CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes stock, reducing his ownership by 44.10% to approximately 667,593 shares valued at nearly $29.65 million.
• Analysts have given Baker Hughes a "Moderate Buy" rating, with an average price target of $49.50, although several firms have adjusted their ratings and price expectations in recent reports.

Sheaff Brock Investment Advisors LLC raised its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,546 shares of the company's stock after acquiring an additional 9,760 shares during the quarter. Baker Hughes makes up approximately 0.8% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 26th largest position. Sheaff Brock Investment Advisors LLC's holdings in Baker Hughes were worth $8,770,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Greenleaf Trust increased its position in shares of Baker Hughes by 2.2% in the first quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after buying an additional 293 shares in the last quarter. Commerce Bank increased its position in shares of Baker Hughes by 1.0% in the fourth quarter. Commerce Bank now owns 31,075 shares of the company's stock valued at $1,275,000 after buying an additional 300 shares in the last quarter. Grove Bank & Trust increased its position in shares of Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after buying an additional 320 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Baker Hughes by 1.0% in the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock valued at $1,526,000 after buying an additional 339 shares in the last quarter. Finally, Black Cypress Capital Management LLC increased its position in shares of Baker Hughes by 0.4% during the fourth quarter. Black Cypress Capital Management LLC now owns 103,624 shares of the company's stock worth $4,251,000 after purchasing an additional 373 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on BKR shares. Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. TD Cowen boosted their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday. TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $49.50.

Baker Hughes Price Performance

BKR opened at $46.05 on Monday. The stock's 50-day moving average price is $38.89 and its 200 day moving average price is $40.93. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market cap of $45.62 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 5.71 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the company earned $0.57 EPS. Baker Hughes's revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 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, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.00%. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.

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