DUTCH ASSET Corp Acquires Shares of 23,044 Baker Hughes Company $BKR

Key Points

• DUTCH ASSET Corp opened a new position in Baker Hughes during the fourth quarter, buying 23,044 shares valued at about $1.05 million. The stock now represents 0.8% of its portfolio and is its 29th largest holding.
• Baker Hughes reported better-than-expected earnings for the latest quarter, posting EPS of $0.58 versus estimates of $0.49. Revenue came in at $6.59 billion, slightly below forecasts, but still rose 2.5% year over year.
• Analysts remain broadly positive on the stock, with 18 Buy ratings and four Hold ratings. The consensus price target is $69.14, and several firms recently raised their targets, including JPMorgan and BMO Capital Markets.

DUTCH ASSET Corp acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,044 shares of the company's stock, valued at approximately $1,049,000. Baker Hughes makes up 0.8% of DUTCH ASSET Corp's investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently made changes to their positions in the company. Pinion Investment Advisors LLC bought a new position in shares of Baker Hughes during the 4th quarter valued at approximately $778,000. Nordea Investment Management AB increased its position in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company's stock worth $125,813,000 after purchasing an additional 309,996 shares during the last quarter. Legal & General Group Plc raised its stake in Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company's stock valued at $348,234,000 after purchasing an additional 367,728 shares in the last quarter. Nkcfo LLC purchased a new stake in Baker Hughes during the third quarter valued at $2,967,000. Finally, Artisan Partners Limited Partnership lifted its position in Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company's stock valued at $843,653,000 after purchasing an additional 638,640 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

BKR stock opened at $58.41 on Friday. Baker Hughes Company has a twelve month low of $37.38 and a twelve month high of $70.41. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.08 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm's fifty day simple moving average is $64.02 and its two-hundred day simple moving average is $58.25.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business earned $0.51 EPS. The business's revenue was up 2.5% on a year-over-year basis. As a group, analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes's dividend payout ratio (DPR) is presently 29.39%.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the sale, the chief executive officer directly owned 784,944 shares of the company's stock, valued at $49,734,051.84. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BKR. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Weiss Ratings restated a "buy (b)" rating on shares of Baker Hughes in a research report on Friday, April 24th. UBS Group increased their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a report on Monday, April 27th. BMO Capital Markets lifted their price target on Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada boosted their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $69.14.

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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