Nkcfo LLC Sells 17,000 Shares of Baker Hughes Company $BKR

Key Points

• Nkcfo LLC sold 17,000 shares of Baker Hughes in Q4, cutting its stake by 27.9% to 43,900 shares worth about $1.999 million.
• Baker Hughes beat EPS estimates (Q: $0.58 vs $0.49 consensus) while revenue of $6.59B slightly missed expectations, and the company declared a quarterly dividend of $0.23 (annualized $0.92, 1.3% yield; ex-dividend May 5, payable May 15).
• Analysts maintain a "Moderate Buy" consensus with an average target of $68.09; the stock has a market cap of about $68.85 billion, a P/E of 22.26, and a 12‑month range of $35.10–$70.41.

Nkcfo LLC lowered its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,900 shares of the company's stock after selling 17,000 shares during the period. Nkcfo LLC's holdings in Baker Hughes were worth $1,999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Capital International Investors acquired a new stake in shares of Baker Hughes in the third quarter valued at approximately $729,670,000. Capital World Investors grew its holdings in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company's stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. First Trust Advisors LP grew its holdings in Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company's stock worth $454,334,000 after acquiring an additional 1,906,384 shares during the period. Capital Research Global Investors grew its holdings in Baker Hughes by 7.1% during the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company's stock worth $1,262,033,000 after acquiring an additional 1,728,016 shares during the period. Finally, Merewether Investment Management LP grew its holdings in Baker Hughes by 359.7% during the 3rd quarter. Merewether Investment Management LP now owns 2,165,846 shares of the company's stock worth $105,520,000 after acquiring an additional 1,694,700 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $69.67 on Friday. Baker Hughes Company has a 12-month low of $35.10 and a 12-month high of $70.41. The firm has a market capitalization of $68.85 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.41 and a beta of 0.90. 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 has a fifty day moving average of $61.92 and a 200-day moving average of $54.29.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The firm's revenue was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, May 5th. Baker Hughes's payout ratio is currently 29.39%.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 843 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares of the company's stock, valued at approximately $789,830.46. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 590,251 shares of company stock valued at $35,311,023. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Capital One Financial lifted their target price on shares of Baker Hughes from $60.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. HSBC lifted their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a "buy" rating in a report on Monday. Johnson Rice assumed coverage on shares of Baker Hughes in a report on Wednesday, February 25th. They set a "buy" rating and a $68.00 target price for the company. Barclays lifted their target price on shares of Baker Hughes from $57.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Piper Sandler lifted their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Tuesday. Nineteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average target price of $68.09.

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.

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