Bokf Na Has $14.16 Million Stake in Baker Hughes Company $BKR

Key Points

• Bokf Na boosted its holding in Baker Hughes by 17.9% to 311,018 shares, valued at $14.16 million at quarter-end.
• Insider selling was notable: CEO Lorenzo Simonelli sold 272,594 shares for about $16.0M and insiders sold 569,400 shares in the past 90 days, while institutional investors own 92.06% of the stock.
• Analysts rate Baker Hughes a consensus "Moderate Buy" (19 Buys, 2 Holds, 1 Sell) with an average target of $68.64; the company beat Q1 EPS estimates at $0.58 and declared a $0.23 quarterly dividend (1.4% yield).

Bokf Na boosted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,018 shares of the company's stock after buying an additional 47,141 shares during the quarter. Bokf Na's holdings in Baker Hughes were worth $14,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Krilogy Financial LLC increased its position in Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock worth $261,000 after buying an additional 180 shares during the last quarter. Formidable Asset Management LLC increased its position in Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock worth $358,000 after buying an additional 225 shares during the last quarter. CoreCap Advisors LLC increased its position in Baker Hughes by 16.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company's stock worth $74,000 after buying an additional 228 shares during the last quarter. AMG National Trust Bank increased its position in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company's stock worth $333,000 after buying an additional 246 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its position in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock worth $37,000 after buying an additional 252 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on BKR shares. Zacks Research downgraded shares of Baker Hughes from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. HSBC raised their price target on Baker Hughes from $67.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, April 27th. TD Cowen raised their price target on Baker Hughes from $64.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada raised their price target on Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. 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 stock. According to MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $68.64.

Baker Hughes Stock Down 1.8%

BKR stock opened at $67.78 on Wednesday. Baker Hughes Company has a twelve month low of $35.83 and a twelve month high of $70.41. The company has a market cap of $67.24 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.43 and a beta of 0.97. The business's 50-day simple moving average is $62.03 and its 200 day simple moving average is $54.59. 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 (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share 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 business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the business earned $0.51 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes's dividend payout ratio (DPR) is currently 29.39%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents 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 at this link. Also, insider Maria Georgia Magno sold 19,150 shares of the firm's stock in a transaction dated 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 transaction, the insider 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 569,400 shares of company stock valued at $34,120,287. Corporate insiders own 0.19% of the company's stock.

Baker Hughes 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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