Baker Hughes Company $BKR Holdings Lifted by D.A. Davidson & CO.

D.A. Davidson & CO. increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 46.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,554 shares of the company’s stock after acquiring an additional 37,430 shares during the period. D.A. Davidson & CO.’s holdings in Baker Hughes were worth $7,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. EFG International AG acquired a new stake in Baker Hughes in the 4th quarter worth $26,000. Cullen Frost Bankers Inc. grew its stake 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 position in Baker Hughes during the fourth quarter valued at approximately $31,000. MV Capital Management Inc. acquired a new position in shares of Baker Hughes in the 4th quarter valued at $34,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in Baker Hughes during the 4th quarter worth $35,000. 92.06% of the stock is owned by institutional investors.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated 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 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 position. The sale 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. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BKR. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Citigroup increased their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings cut Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Piper Sandler decreased their target price on shares of Baker Hughes from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $70.00.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $55.95 on Friday. Baker Hughes Company has a fifty-two week low of $38.97 and a fifty-two week high of $70.41. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.35 and a beta of 0.96. The firm’s 50-day simple moving average is $60.85 and its 200 day simple moving average is $59.53. 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 (NASDAQ:BKR) last issued 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 business had revenue of $6.59 billion for 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 business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, research analysts anticipate that Baker Hughes Company will post 2.27 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given 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 1.6%. Baker Hughes’s payout ratio 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.