Wealth High Governance Asset Management Ltda. Buys New Shares in Baker Hughes Company $BKR

Wealth High Governance Asset Management Ltda. acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 29,704 shares of the company's stock, valued at approximately $1,813,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. EFG International AG acquired a new position in shares of Baker Hughes during the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. lifted its holdings in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after purchasing an additional 468 shares during the last quarter. Quarry LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth $31,000. MV Capital Management Inc. acquired a new stake in Baker Hughes in the 4th quarter worth about $34,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $35,000. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares of the company's stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Susquehanna upped their price objective on shares of Baker Hughes from $70.00 to $72.00 and gave the stock a "positive" rating in a research report on Tuesday, July 28th. Barclays lowered their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an "equal weight" rating for the company in a research report on Thursday, July 16th. UBS Group set a $51.00 target price on Baker Hughes in a research note on Tuesday, July 28th. Wolfe Research assumed coverage on shares of Baker Hughes in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $70.00 price target on the stock. Finally, Evercore reissued an "outperform" rating and set a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Baker Hughes Stock Performance

BKR opened at $60.49 on Monday. The company has a fifty day moving average of $59.36 and a 200-day moving average of $60.33. Baker Hughes Company has a twelve month low of $41.96 and a twelve month high of $70.41. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The stock has a market cap of $60.05 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Baker Hughes Company will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.23 per share. The ex-dividend date is Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes's dividend payout ratio is currently 29.68%.

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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