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

NEOS Investment Management LLC lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 13.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 759,404 shares of the company’s stock after purchasing an additional 91,512 shares during the period. NEOS Investment Management LLC owned about 0.08% of Baker Hughes worth $42,147,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EFG International AG purchased a new position in Baker Hughes in the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. lifted its holdings in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. Quarry LP acquired a new position in shares of Baker Hughes during the 4th quarter worth about $31,000. MV Capital Management Inc. acquired a new position in shares of Baker Hughes during the 4th quarter worth about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Baker Hughes Stock Down 1.5%

Baker Hughes stock opened at $63.64 on Friday. The company has a market capitalization of $63.17 billion, a P/E ratio of 20.53, a PEG ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a fifty-two week low of $43.92 and a fifty-two week high of $70.41. The stock has a 50-day simple moving average of $59.75 and a 200-day simple moving average of $61.55.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Equities research analysts expect that Baker Hughes Company will post 2.51 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s dividend payout ratio is presently 29.68%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BKR shares. Morgan Stanley initiated coverage on Baker Hughes in a research report on Friday, August 7th. They set an “overweight” rating and a $70.00 target price on the stock. Weiss Ratings downgraded Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. TD Cowen increased their price target on shares of Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Citigroup raised their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Barclays reduced their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 16th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

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.