Nkcfo LLC Grows Stock Holdings in Baker Hughes Company (NASDAQ:BKR)

Key Points

• Nkcfo LLC significantly increased its holdings in Baker Hughes Company by 193.4% in Q1, owning 60,000 shares valued at approximately $2.64 million.
• Major institutional investors, including Pacer Advisors Inc. and Neuberger Berman Group LLC, have also dramatically increased their positions in Baker Hughes, reflecting growing confidence in the stock.
• Baker Hughes announced a quarterly dividend of $0.23 per share, with a yield of 2.00%, set to be paid on August 15th to shareholders of record by August 5th.

Nkcfo LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 193.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,000 shares of the company's stock after purchasing an additional 39,550 shares during the period. Baker Hughes comprises approximately 1.2% of Nkcfo LLC's investment portfolio, making the stock its 23rd biggest position. Nkcfo LLC's holdings in Baker Hughes were worth $2,637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BKR. Carrera Capital Advisors boosted its position in shares of Baker Hughes by 3.8% during the 1st quarter. Carrera Capital Advisors now owns 74,250 shares of the company's stock worth $3,263,000 after purchasing an additional 2,700 shares in the last quarter. LPL Financial LLC boosted its position in shares of Baker Hughes by 6.9% during the 1st quarter. LPL Financial LLC now owns 309,442 shares of the company's stock worth $13,600,000 after purchasing an additional 20,028 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Baker Hughes by 2.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 494,527 shares of the company's stock worth $21,734,000 after purchasing an additional 13,676 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Baker Hughes by 2.0% during the 1st quarter. Empirical Finance LLC now owns 45,866 shares of the company's stock worth $2,016,000 after purchasing an additional 884 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Baker Hughes by 8.4% during the 1st quarter. TD Asset Management Inc now owns 450,620 shares of the company's stock worth $19,805,000 after purchasing an additional 34,888 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Up 1.1%

BKR traded up $0.50 during midday trading on Monday, reaching $46.55. The company's stock had a trading volume of 5,758,320 shares, compared to its average volume of 7,872,403. The firm has a market capitalization of $46.12 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 5.71 and a beta of 0.91. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 1 year low of $32.25 and a 1 year high of $49.40. The stock's 50-day moving average is $39.06 and its 200-day moving average is $40.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 1.98%. Baker Hughes's payout ratio is 30.07%.

Wall Street Analyst Weigh In

BKR has been the topic of several recent analyst reports. Evercore ISI dropped their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays raised their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. TD Cowen lifted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank Of Canada reduced their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.50.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.