Kestra Advisory Services LLC Buys 36,578 Shares of Baker Hughes Company $BKR

Key Points

• Kestra Advisory Services LLC increased its Baker Hughes stake by 30.9% in the first quarter, buying 36,578 additional shares to bring its total holding to 154,954 shares worth about $9.46 million.
• Baker Hughes recently reported strong quarterly earnings of $0.58 per share, beating analyst estimates, while revenue rose 2.5% year over year to $6.59 billion.
• Analysts remain broadly positive on the stock, with 18 Buy ratings and 4 Hold ratings and an average target price of $70.14, though some company insiders have recently sold shares.

Kestra Advisory Services LLC increased its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 30.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,954 shares of the company's stock after buying an additional 36,578 shares during the quarter. Kestra Advisory Services LLC's holdings in Baker Hughes were worth $9,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Woodline Partners LP raised its stake in shares of Baker Hughes by 40.8% in the first 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 period. Focus Partners Wealth grew its holdings in 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 purchasing an additional 986 shares during the last quarter. Jump Financial LLC bought a new position in Baker Hughes during the 2nd quarter valued at about $2,301,000. NewEdge Advisors LLC raised its position in Baker Hughes by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company's stock worth $1,779,000 after purchasing an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in Baker Hughes in the second quarter worth about $1,014,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.2%

Shares of NASDAQ BKR opened at $57.66 on Tuesday. Baker Hughes Company has a twelve month low of $38.37 and a twelve month high of $70.41. The firm has a market cap of $57.20 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The business has a fifty day simple moving average of $61.54 and a two-hundred day simple moving average of $59.31. 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 posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. Analysts expect that Baker Hughes Company will post 2.29 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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes's dividend payout ratio is presently 29.39%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen upgraded Baker Hughes from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group boosted their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a report on Monday, April 27th. TD Cowen increased their target price on Baker Hughes from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Capital One Financial lifted their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $70.14.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company's stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 in the last three months. 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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