13,000 Shares in Baker Hughes Company $BKR Acquired by Fore Capital LLC

Fore Capital LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,000 shares of the company’s stock, valued at approximately $592,000. Baker Hughes comprises 0.2% of Fore Capital LLC’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators grew its stake in Baker Hughes by 10.5% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after buying an additional 179 shares during the last quarter. Krilogy Financial LLC grew its stake in Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after buying an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC grew its stake in Baker Hughes by 0.5% during the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after buying an additional 203 shares during the last quarter. Formidable Asset Management LLC grew its stake in Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after buying an additional 225 shares during the last quarter. Finally, CoreCap Advisors LLC grew its stake in Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 2.9%

Baker Hughes stock opened at $66.11 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. Baker Hughes Company has a 1-year low of $37.08 and a 1-year high of $70.41. The company has a market cap of $65.59 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.29 and a beta of 0.93. The stock’s 50 day moving average price is $63.91 and its 200 day moving average price is $57.31.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s payout ratio is 29.39%.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 282,745 shares of company stock worth $16,651,472 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BKR shares. Susquehanna raised their price target on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research note on Sunday, April 26th. Zacks Research downgraded Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Citigroup lowered their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays reiterated an “equal weight” rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research note on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

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.