Capital International Investors Acquires Shares of 14,976,782 Baker Hughes Company $BKR

Key Points

• Capital International Investors bought 14,976,782 shares of Baker Hughes (~$729.7M) during Q3, now owning about 1.52% of the company.
• Analysts are broadly positive — 20 Buy vs 2 Hold ratings with a consensus “Moderate Buy” and an average price target of $59.61, and several firms recently raised targets (e.g., Argus $67, Johnson Rice $68).
• Baker Hughes beat the latest quarter's expectations with EPS of $0.78 vs $0.67 consensus and revenue of $7.39B, and pays a quarterly dividend of $0.23 (annualized yield ~1.6%).

Capital International Investors bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,976,782 shares of the company's stock, valued at approximately $729,670,000. Capital International Investors owned about 1.52% of Baker Hughes as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management boosted its position in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after buying an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after acquiring an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Baker Hughes during the second quarter valued at about $36,000. Spire Wealth Management boosted its holdings in shares of Baker Hughes by 357.8% during the third quarter. Spire Wealth Management now owns 1,021 shares of the company's stock worth $50,000 after purchasing an additional 798 shares during the period. Finally, N.E.W. Advisory Services LLC grew its stake in shares of Baker Hughes by 60.6% in the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company's stock worth $54,000 after purchasing an additional 416 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group upped their price target on Baker Hughes from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, January 28th. Argus boosted their target price on Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Johnson Rice began coverage on Baker Hughes in a report on Wednesday, February 25th. They set a "buy" rating and a $68.00 target price for the company. Citigroup raised their price target on Baker Hughes from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. Finally, iA Financial set a $60.00 price target on shares of Baker Hughes in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.61.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares of the company's stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider directly owned 14,588 shares in the company, valued at approximately $862,296.68. This represents a 56.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 312,594 shares of company stock worth $18,986,302. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Down 1.3%

Shares of Baker Hughes stock opened at $59.34 on Wednesday. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $67.00. The firm has a market cap of $58.64 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.63 and a beta of 0.83. The company has a 50-day moving average of $56.69 and a 200 day moving average of $50.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Baker Hughes's quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's dividend payout ratio is presently 35.38%.

About Baker Hughes

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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