DSG Capital Advisors LLC Invests $894,000 in Baker Hughes Company $BKR

DSG Capital Advisors LLC purchased a new stake in shares of Baker Hughes Company (NASDAQ:BKR) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,644 shares of the company’s stock, valued at approximately $894,000.

A number of other institutional investors have also added to or reduced their stakes in the company. EFG International AG bought a new stake in shares of Baker Hughes during the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. grew its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after buying an additional 468 shares during the last quarter. Quarry LP bought a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $31,000. MV Capital Management Inc. purchased a new position in Baker Hughes in the 4th quarter worth approximately $34,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Baker Hughes in the 4th quarter worth approximately $35,000. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. 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, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The stock was 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 $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. In the last three months, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent analyst reports. Capital One Financial increased their target price on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Argus upped their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Stifel Nicolaus lifted their price objective on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $70.57.

Baker Hughes Stock Down 1.9%

Baker Hughes stock opened at $52.78 on Friday. Baker Hughes Company has a one year low of $38.37 and a one year high of $70.41. The stock has a fifty day moving average of $63.14 and a 200 day moving average of $58.79. 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 cap of $52.36 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96.

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, topping 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 return on equity of 14.17% and a net margin of 11.17%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. As a group, sell-side analysts predict that Baker Hughes Company will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.

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.