HighTower Advisors LLC Increases Stake in Baker Hughes Company $BKR

HighTower Advisors LLC increased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,110,415 shares of the company’s stock after buying an additional 135,992 shares during the period. HighTower Advisors LLC owned about 0.11% of Baker Hughes worth $54,099,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Baker Hughes by 5.6% during the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after purchasing an additional 986 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares in the last quarter. Mutual Advisors LLC purchased a new position in Baker Hughes in the second quarter valued at $475,000. Finally, Stephens Inc. AR raised its stake in Baker Hughes by 27.2% in the second quarter. Stephens Inc. AR now owns 11,938 shares of the company’s stock valued at $458,000 after buying an additional 2,555 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In related news, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider owned 14,588 shares in the company, valued at $862,296.68. The trade was a 56.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 40,001 shares of company stock worth $2,322,692. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BKR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. UBS Group increased their price target on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Evercore set a $54.00 target price on shares of Baker Hughes in a report on Monday, October 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.78.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $61.20 on Tuesday. The stock has a market cap of $60.48 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $62.27. The stock has a 50 day moving average of $51.44 and a two-hundred day moving average of $48.44. 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 (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.09 billion. During the same period last year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a $0.23 dividend. 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 is presently 35.38%.

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.