Alight Capital Management LP Invests $4.55 Million in Baker Hughes Company $BKR

Alight Capital Management LP acquired a new position in Baker Hughes Company (NASDAQ:BKR) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $4,554,000.

A number of other institutional investors have also made changes to their positions in BKR. Pinion Investment Advisors LLC bought a new position in Baker Hughes during the fourth quarter valued at about $778,000. Nordea Investment Management AB increased its stake in Baker Hughes by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after acquiring an additional 309,996 shares during the period. Legal & General Group Plc increased its stake in Baker Hughes by 5.4% during the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after acquiring an additional 367,728 shares during the period. Nkcfo LLC bought a new position in Baker Hughes during the third quarter valued at about $2,967,000. Finally, Artisan Partners Limited Partnership increased its stake in Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after acquiring an additional 638,640 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Down 2.4%

NASDAQ BKR opened at $60.07 on Thursday. 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 stock’s 50 day moving average is $64.17 and its two-hundred day moving average is $58.19. The company has a market capitalization of $59.59 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.19 and a beta of 0.93. Baker Hughes Company has a 1-year low of $37.38 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. Equities analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BKR shares. Stifel Nicolaus boosted their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday. HSBC lifted their price objective on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Evercore reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. Finally, UBS Group lifted their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the transaction, the chief executive officer owned 784,944 shares of the company’s stock, valued at approximately $49,734,051.84. This represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was 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 in the company, valued at approximately $1,027,327.34. This represents a 24.13% 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. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Company 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.