Private Advisor Group LLC Purchases 7,111 Shares of Baker Hughes Company (NASDAQ:BKR)

Key Points

• Private Advisor Group LLC increased its stake in Baker Hughes Company by 40.3%, owning 24,769 shares valued at approximately $1,089,000 following the acquisition of additional shares in the first quarter.
• Baker Hughes reported $0.63 earnings per share (EPS) for the most recent quarter, exceeding analysts' expectations and generating revenue of $6.91 billion.
• The company announced a quarterly dividend of $0.23 per share, with a dividend yield of 2.00% and a payout ratio of 30.07%.

Private Advisor Group LLC grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 40.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,769 shares of the company's stock after buying an additional 7,111 shares during the period. Private Advisor Group LLC's holdings in Baker Hughes were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wayfinding Financial LLC acquired a new position in shares of Baker Hughes during the first quarter valued at approximately $28,000. Golden State Wealth Management LLC grew its position in Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares during the last quarter. Grove Bank & Trust grew its position in Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the last quarter. Spire Wealth Management grew its position in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after buying an additional 465 shares during the last quarter. Finally, Tsfg LLC grew its position in Baker Hughes by 278.8% in the first quarter. Tsfg LLC now owns 1,485 shares of the company's stock worth $65,000 after buying an additional 1,093 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Baker Hughes from $40.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Stifel Nicolaus decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Susquehanna lifted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Royal Bank Of Canada decreased their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI decreased their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.06.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

Baker Hughes Stock Down 1.7%

Shares of BKR stock traded down $0.80 on Tuesday, hitting $45.75. The company's stock had a trading volume of 15,814,606 shares, compared to its average volume of 8,106,375. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The firm's fifty day moving average price is $39.06 and its 200-day moving average price is $40.96. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 5.71 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business earned $0.57 EPS. Baker Hughes's quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's payout ratio is presently 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.