Baker Hughes (NASDAQ:BKR) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC boosted its stake in Baker Hughes (NASDAQ:BKR) by 13.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 21,678 shares of the company’s stock after purchasing an additional 2,509 shares during the period. Ballentine Partners LLC’s holdings in Baker Hughes were worth $726,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its holdings in Baker Hughes by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 86,946 shares of the company’s stock valued at $2,912,000 after purchasing an additional 564 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in Baker Hughes in the 1st quarter valued at approximately $117,083,000. Park Avenue Securities LLC increased its holdings in Baker Hughes by 19.1% in the 1st quarter. Park Avenue Securities LLC now owns 28,942 shares of the company’s stock valued at $970,000 after purchasing an additional 4,636 shares during the last quarter. Wedmont Private Capital increased its holdings in Baker Hughes by 109.1% in the 1st quarter. Wedmont Private Capital now owns 16,131 shares of the company’s stock valued at $552,000 after purchasing an additional 8,415 shares during the last quarter. Finally, Perpetual Ltd increased its holdings in Baker Hughes by 440.1% in the 1st quarter. Perpetual Ltd now owns 64,499 shares of the company’s stock valued at $2,161,000 after purchasing an additional 52,556 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.6 %

Shares of Baker Hughes stock traded up $0.52 during trading on Monday, hitting $33.45. 186,214 shares of the stock were exchanged, compared to its average volume of 7,883,158. The stock has a market cap of $33.38 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The firm’s 50-day moving average price is $32.37 and its 200 day moving average price is $31.95. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the company earned $0.28 earnings per share. Baker Hughes’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.51%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BKR shares. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. UBS Group raised their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley raised their price target on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.