Baker Hughes Company $BKR Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in Baker Hughes Company (NASDAQ:BKR) by 421.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 145,134 shares of the company’s stock after purchasing an additional 117,321 shares during the period. Apollon Wealth Management LLC’s holdings in Baker Hughes were worth $8,860,000 as of its most recent SEC filing.

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

Baker Hughes Stock Performance

BKR opened at $56.31 on Tuesday. 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 business’s 50 day moving average is $63.48 and its 200-day moving average is $58.65. The stock has a market cap of $55.86 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.04 and a beta of 0.93. Baker Hughes Company has a twelve month low of $37.69 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts predict that Baker Hughes Company will post 2.28 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was 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. Over the last three months, insiders have sold 367,910 shares of company stock valued at $22,420,797. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. UBS Group upped their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Piper Sandler lifted their target price on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average 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.