Calamos Advisors LLC Takes Position in Baker Hughes Company $BKR

Calamos Advisors LLC acquired a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 74,000 shares of the company’s stock, valued at approximately $4,518,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Baker Hughes by 1.6% in the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after purchasing an additional 937,614 shares during the period. Cardano Risk Management B.V. increased its holdings in Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares during the period. Geode Capital Management LLC raised its position in Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after purchasing an additional 204,534 shares in the last quarter. Norges Bank bought a new stake in Baker Hughes during the 4th quarter valued at $1,022,491,000. Finally, Capital International Investors lifted its holdings in shares of Baker Hughes by 6.4% in the 4th quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after buying an additional 956,808 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of recent research reports. Piper Sandler dropped their price target on Baker Hughes from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. TD Cowen increased their target price on shares of Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. BMO Capital Markets raised their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.09.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated 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 owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by company insiders.

Baker Hughes Stock Down 0.9%

NASDAQ:BKR opened at $57.25 on Thursday. The company’s 50-day simple moving average is $61.15 and its 200-day simple moving average is $59.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. Baker Hughes Company has a fifty-two week low of $38.37 and a fifty-two week high of $70.41. The stock has a market capitalization of $56.80 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.09 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. On average, equities analysts anticipate that Baker Hughes Company will post 2.27 earnings per share for the current fiscal 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 given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is presently 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.