Sei Investments Co. Has $167.35 Million Stake in Baker Hughes Company $BKR

Key Points

• Sei Investments raised its stake in Baker Hughes (NASDAQ: BKR) by 9.6% to 3,435,023 shares, valued at approximately $167.35 million at the end of the quarter.
• Insiders have been net sellers, disposing of 312,594 shares worth about $18.99 million in the past 90 days, including disclosed sales by CAO Rebecca Charlton and Maria Georgia Magno.
• Baker Hughes recently beat quarterly expectations with EPS $0.78 (vs. $0.67) and $7.39B revenue, and analysts maintain a generally positive view—consensus rating "Moderate Buy" with an average price target of about $59.61.

Sei Investments Co. increased its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,435,023 shares of the company's stock after purchasing an additional 300,529 shares during the quarter. Sei Investments Co. owned about 0.35% of Baker Hughes worth $167,354,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Brandywine Global Investment Management LLC boosted its holdings in Baker Hughes by 8.2% in the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company's stock valued at $24,850,000 after acquiring an additional 49,108 shares during the last quarter. Synergy Asset Management LLC bought a new stake in Baker Hughes during the 3rd quarter worth about $1,920,000. Cibc World Market Inc. raised its holdings in Baker Hughes by 13.6% during the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company's stock worth $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Vanguard Group Inc. lifted its position in Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company's stock valued at $6,035,924,000 after purchasing an additional 598,159 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its position in Baker Hughes by 10,225.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company's stock valued at $41,391,000 after purchasing an additional 841,338 shares during the period. Institutional investors own 92.06% of the company's stock.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of Baker Hughes stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maria Georgia Magno sold 19,150 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value 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 approximately $862,296.68. The trade was a 56.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 312,594 shares of company stock worth $18,986,302 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $55.90 on Friday. The firm's 50 day simple moving average is $57.17 and its 200 day simple moving average is $50.69. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.60 and a beta of 0.83. 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 quarterly earnings data 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 firm had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's payout ratio is 35.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. iA Financial set a $60.00 price objective on shares of Baker Hughes in a report on Tuesday, January 27th. Piper Sandler raised their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, January 28th. Johnson Rice initiated 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. Finally, Susquehanna upped their target price on shares of Baker Hughes from $58.00 to $65.00 and gave the company a "positive" rating in a research report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $59.61.

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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