Capital International Inc. CA Grows Stock Holdings in Baker Hughes Company $BKR

Capital International Inc. CA raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,331 shares of the company’s stock after buying an additional 15,404 shares during the period. Capital International Inc. CA’s holdings in Baker Hughes were worth $12,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the period. Capital World Investors boosted its position in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after buying an additional 3,153,709 shares during the period. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after buying an additional 204,534 shares during the period. Capital Research Global Investors boosted its position in shares of Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after buying an additional 1,728,016 shares during the period. Finally, Norges Bank purchased a new position in shares of Baker Hughes during the fourth quarter worth $1,022,491,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction 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. This trade represents 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 at this hyperlink. Also, 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 completion of the sale, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This 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 ninety days. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $62.59 on Monday. Baker Hughes Company has a 12-month low of $37.38 and a 12-month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm has a market cap of $62.09 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93. The stock has a fifty day moving average price of $63.91 and a 200 day moving average price of $57.41.

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 company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm earned $0.51 earnings per share. Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders 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 yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BKR. Susquehanna raised their price target on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their target price on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, April 27th. Barclays reiterated an “equal weight” rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. HSBC lifted their target price on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, TD Cowen lifted their target price on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target 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.