Eventide Asset Management LLC Has $15.97 Million Stock Position in Baker Hughes Company $BKR

Eventide Asset Management LLC grew its position in Baker Hughes Company (NASDAQ:BKR) by 1,042.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,974 shares of the company’s stock after buying an additional 319,345 shares during the quarter. Eventide Asset Management LLC’s holdings in Baker Hughes were worth $15,971,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted 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 worth $27,000 after purchasing an additional 468 shares during the period. Quarry LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $31,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $35,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 786.5% during the fourth quarter. Golden State Wealth Management LLC now owns 789 shares of the company’s stock worth $36,000 after purchasing an additional 700 shares during the period. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred 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 transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BKR has been the subject of several research reports. UBS Group raised their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a report on Sunday, April 26th. Citigroup decreased their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Finally, HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes Price Performance

NASDAQ BKR opened at $63.14 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $62.64 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The company has a 50 day moving average price of $64.12 and a two-hundred day moving average price of $57.94. Baker Hughes Company has a 12-month low of $37.38 and a 12-month high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted 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 analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s 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.