Picton Mahoney Asset Management Has $5.44 Million Stake in Baker Hughes Company $BKR

Key Points

• Picton Mahoney Asset Management increased its stake in Baker Hughes (BKR) by 328,041.2%, now owning 111,568 shares worth about $5.44 million; institutional investors hold 92.06% of the stock.
• Company insiders sold 40,001 shares in the past three months worth roughly $2.32 million, leaving insiders with just 0.27% ownership.
• Analyst sentiment is broadly positive — 20 Buys vs. 2 Holds with a consensus target of $59.61 — and Baker Hughes recently beat EPS estimates ($0.78 vs. $0.67) while paying a quarterly dividend of $0.23 (annualized yield ~1.5%).

Picton Mahoney Asset Management boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 328,041.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,568 shares of the company's stock after acquiring an additional 111,534 shares during the quarter. Picton Mahoney Asset Management's holdings in Baker Hughes were worth $5,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its holdings in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after purchasing an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock worth $32,000 after buying an additional 337 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at approximately $36,000. LFA Lugano Financial Advisors SA bought a new stake in Baker Hughes in the 2nd quarter valued at approximately $36,000. Finally, Spire Wealth Management boosted its position in Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock worth $50,000 after acquiring an additional 798 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider directly owned 14,588 shares of the company's stock, valued at $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were 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. In the last three months, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Johnson Rice initiated coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They issued a "buy" rating and a $68.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 27th. Argus increased their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Finally, Susquehanna raised their price objective on Baker Hughes from $58.00 to $65.00 and gave the company a "positive" rating in a 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.61.

Baker Hughes Stock Performance

Shares of BKR stock opened at $60.88 on Thursday. The stock has a market cap of $60.16 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a fifty day moving average price of $55.55 and a two-hundred day moving average price of $50.08. 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.

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

Baker Hughes Announces Dividend

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

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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