Dynamic Technology Lab Private Ltd Takes Position in Baker Hughes Company $BKR

Key Points

• Dynamic Technology Lab Private Ltd opened a new position in Baker Hughes, buying 25,901 shares worth about $1.18 million in the fourth quarter.
• Wall Street remains broadly constructive on the stock: Baker Hughes has a Moderate Buy consensus rating, with 18 Buy ratings and an average price target of $69.14.
• The company reported Q1 EPS of $0.58, beating estimates, while revenue came in at $6.59 billion; Baker Hughes also recently paid a quarterly dividend of $0.23 per share for a 1.5% annual yield.

Dynamic Technology Lab Private Ltd 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 filing with the Securities and Exchange Commission. The institutional investor acquired 25,901 shares of the company's stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BKR. Woodline Partners LP lifted its position in shares of Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company's stock valued at $3,676,000 after acquiring an additional 24,225 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company's stock valued at $812,000 after acquiring an additional 986 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at $2,301,000. NewEdge Advisors LLC lifted its position in shares of Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company's stock valued at $1,779,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at $1,014,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $80.00 target price on shares of Baker Hughes in a report on Sunday, April 26th. UBS Group increased their target price on Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Citigroup reduced their target price on Baker Hughes from $80.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Royal Bank Of Canada increased their target price on Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Finally, HSBC increased their target price on Baker Hughes from $67.00 to $85.00 and gave the company a "buy" rating in a report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.14.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares of the company's stock, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Baker Hughes Trading Down 0.5%

Baker Hughes stock opened at $63.14 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market capitalization of $62.64 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.26 and a beta of 0.93. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41. The company's fifty day moving average price is $64.12 and its two-hundred day moving average price is $57.88.

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

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.

Baker Hughes Company 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.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.