Oak Thistle LLC Makes New Investment in Baker Hughes Company (NASDAQ:BKR)

Oak Thistle LLC bought a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,361 shares of the company's stock, valued at approximately $543,000.

A number of other large investors have also made changes to their positions in BKR. KLP Kapitalforvaltning AS lifted its position in shares of Baker Hughes by 5.1% during the first quarter. KLP Kapitalforvaltning AS now owns 395,018 shares of the company's stock worth $17,361,000 after purchasing an additional 19,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Baker Hughes by 10.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,035 shares of the company's stock valued at $353,000 after acquiring an additional 772 shares during the period. HighPoint Advisor Group LLC increased its stake in Baker Hughes by 4.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 9,488 shares of the company's stock valued at $417,000 after buying an additional 380 shares during the period. Kingsman Wealth Management Inc. purchased a new position in shares of Baker Hughes during the 1st quarter worth approximately $442,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Baker Hughes by 1.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,158,855 shares of the company's stock worth $50,932,000 after acquiring an additional 16,379 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Morgan Stanley cut their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Citigroup decreased their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Piper Sandler lowered their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.50.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.33 on Friday, hitting $46.05. 5,858,210 shares of the company's stock were exchanged, compared to its average volume of 8,074,655. The stock has a market cap of $45.62 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 5.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 0.93. The company has a 50 day moving average of $38.89 and a 200 day moving average of $40.97. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Baker Hughes's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities research analysts predict 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. This represents a $0.92 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, August 5th. Baker Hughes's dividend payout ratio is presently 30.07%.

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.