Fieldview Capital Management LLC Takes $1.40 Million Position in Baker Hughes Company $BKR

Key Points

• Fieldview Capital opened a new position in Baker Hughes, buying 28,826 shares worth approximately $1.40 million in the third quarter per its latest 13F filing.
• Institutional ownership is high at 92.06%, with large funds actively increasing stakes — e.g., Norges Bank opened a ~$862.7 million position and First Trust grew its holdings 76% to 7.42 million shares.
• Baker Hughes recently beat quarterly expectations (EPS $0.78 vs. $0.67; revenue $7.39B vs. $7.09B), pays a quarterly dividend of $0.23 (1.5% yield), and carries a consensus analyst rating of Moderate Buy with an average target of $59.61.

Fieldview Capital Management LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,826 shares of the company's stock, valued at approximately $1,404,000.

A number of other hedge funds also recently modified their holdings of BKR. Norges Bank acquired a new position in Baker Hughes in the second quarter valued at about $862,722,000. First Trust Advisors LP grew its stake in Baker Hughes by 76.0% during the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company's stock worth $284,446,000 after buying an additional 3,203,942 shares in the last quarter. Sei Investments Co. grew its stake in Baker Hughes by 247.5% during the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company's stock worth $120,177,000 after buying an additional 2,232,394 shares in the last quarter. American Century Companies Inc. increased its holdings in Baker Hughes by 38.0% in the 2nd quarter. American Century Companies Inc. now owns 7,602,803 shares of the company's stock valued at $291,492,000 after buying an additional 2,094,079 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company's stock worth $492,076,000 after acquiring an additional 2,044,402 shares during the period. Institutional investors own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the business's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The SEC filing for this sale provides additional information. Insiders have sold 312,594 shares of company stock worth $18,986,302 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $60.10 on Tuesday. Baker Hughes Company has a one year low of $33.60 and a one year high of $67.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market cap of $59.39 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.62 and a beta of 0.83. The firm has a 50 day simple moving average of $56.42 and a 200 day simple moving average of $50.49.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. Research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes's dividend payout ratio is currently 35.38%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BKR. iA Financial set a $60.00 price objective on shares of Baker Hughes in a research note on Tuesday, January 27th. BMO Capital Markets upped their target price on Baker Hughes from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Baker Hughes in a report on Monday, December 29th. Barclays boosted their price target on Baker Hughes from $55.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, January 27th. Finally, TD Cowen upped their price objective on Baker Hughes from $55.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $59.61.

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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