Baker Hughes Company $BKR Stock Holdings Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 97.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,026 shares of the company’s stock after purchasing an additional 45,385 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Baker Hughes were worth $5,618,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators boosted its stake in shares of Baker Hughes by 10.5% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC grew its holdings in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after acquiring an additional 180 shares in the last quarter. 3Chopt Investment Partners LLC increased its stake in shares of Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after acquiring an additional 203 shares during the last quarter. Evolve Private Wealth LLC increased its stake in shares of Baker Hughes by 2.4% in the first quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after acquiring an additional 203 shares during the last quarter. Finally, Formidable Asset Management LLC raised its holdings in shares of Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after acquiring an additional 225 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BKR shares. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price objective on shares of Baker Hughes in a research report on Sunday, April 26th. BMO Capital Markets raised their price target on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. TD Cowen lifted their price target on Baker Hughes from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Finally, Piper Sandler increased their price objective on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.57.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $52.78 on Friday. Baker Hughes Company has a fifty-two week low of $38.37 and a fifty-two week high of $70.41. The business has a 50-day moving average of $62.94 and a two-hundred day moving average of $58.75. The stock has a market capitalization of $52.36 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS 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 business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes Company will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. Baker Hughes’s dividend payout ratio is presently 29.39%.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the business’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 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% 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. In the last quarter, insiders have sold 367,910 shares of company stock worth $22,420,797. Corporate 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.