Inceptionr LLC Buys New Shares in Baker Hughes Company $BKR

Inceptionr LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,983 shares of the company’s stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Woodline Partners LP raised its holdings 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 in the last quarter. Focus Partners Wealth raised its stake in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares in the last quarter. Prospera Financial Services Inc raised its stake in Baker Hughes by 30.6% in the second quarter. Prospera Financial Services Inc now owns 13,598 shares of the company’s stock valued at $521,000 after buying an additional 3,186 shares in the last quarter. Allworth Financial LP lifted its holdings in Baker Hughes by 4,343.5% during the 2nd quarter. Allworth Financial LP now owns 206,180 shares of the company’s stock worth $7,905,000 after buying an additional 201,540 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of Baker Hughes during the 2nd quarter worth about $639,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In related news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 312,594 shares of company stock worth $18,986,302. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on BKR. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Thursday, January 15th. Capital One Financial boosted their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Citigroup upped their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Piper Sandler upped their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, iA Financial set a $60.00 target price on Baker Hughes in a research report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.61.

Baker Hughes Trading Down 0.6%

NASDAQ:BKR opened at $58.97 on Thursday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $67.00. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $56.96 and its 200-day simple moving average is $50.65. The firm has a market cap of $58.28 billion, a P/E ratio of 22.68, a PEG ratio of 1.61 and a beta of 0.83.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. Baker Hughes’s payout ratio is currently 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.