Capital International Investors Buys 956,808 Shares of Baker Hughes Company $BKR

Capital International Investors grew its stake in Baker Hughes Company (NASDAQ:BKR) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,933,590 shares of the company’s stock after purchasing an additional 956,808 shares during the quarter. Capital International Investors’ holdings in Baker Hughes were worth $725,616,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pinion Investment Advisors LLC bought a new position in Baker Hughes in the 4th quarter worth $778,000. Nordea Investment Management AB raised its holdings in Baker Hughes by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock worth $125,813,000 after purchasing an additional 309,996 shares in the last quarter. Legal & General Group Plc raised its holdings in Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock worth $348,234,000 after purchasing an additional 367,728 shares in the last quarter. Cibc World Market Inc. raised its holdings in Baker Hughes by 13.6% in 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 in the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in Baker Hughes by 10,225.3% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after purchasing an additional 841,338 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

BKR opened at $62.59 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock has a market capitalization of $62.09 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.23 and a beta of 0.93. The company’s 50-day simple moving average is $63.91 and its two-hundred day simple moving average is $57.41. Baker Hughes Company has a 52-week low of $37.38 and a 52-week high of $70.41.

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

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BKR. Citigroup reduced their target price on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Royal Bank Of Canada upped their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. TD Cowen upped their target price on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Capital One Financial upped their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, 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 position. The transaction was disclosed in a legal 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, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider owned 15,555 shares in the company, valued at $918,367.20. This represents a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 282,745 shares of company stock worth $16,651,472. Company insiders own 0.19% of the company’s stock.

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.