Baker Hughes Company $BKR Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC increased its position in Baker Hughes Company (NASDAQ:BKR) by 71.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,013 shares of the company’s stock after acquiring an additional 199,541 shares during the period. NEOS Investment Management LLC’s holdings in Baker Hughes were worth $23,240,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Activest Wealth Management lifted its stake in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after buying an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Baker Hughes during the second quarter valued at approximately $36,000. Harbour Investments Inc. lifted its holdings in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Baker Hughes during the second quarter worth about $36,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BKR shares. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Piper Sandler boosted their price target on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, iA Financial set a $60.00 price objective on shares of Baker Hughes in a report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.78.

Baker Hughes Price Performance

BKR stock opened at $61.20 on Tuesday. The firm has a 50-day moving average of $51.44 and a two-hundred day moving average of $48.44. The firm has a market capitalization of $60.48 billion, a PE ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a one year low of $33.60 and a one year high of $62.27.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the previous year, the company posted $0.70 EPS. Baker Hughes’s revenue was up .3% on a year-over-year basis. On average, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the transaction, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,001 shares of company stock worth $2,322,692. Corporate insiders own 0.27% of the company’s stock.

Baker Hughes 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.