Baker Hughes Company $BKR Shares Acquired by IFP Advisors Inc

IFP Advisors Inc lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 654.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,802 shares of the company’s stock after buying an additional 14,574 shares during the period. IFP Advisors Inc’s holdings in Baker Hughes were worth $933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the period. Meeder Asset Management Inc. increased its position in Baker Hughes by 49.0% in the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock worth $40,000 after buying an additional 214 shares during the period. Jones Financial Companies Lllp bought a new stake in Baker Hughes in the second quarter valued at $39,000. MV Capital Management Inc. bought a new stake in Baker Hughes in the fourth quarter valued at $34,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Baker Hughes during the first quarter valued at $49,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BKR shares. Jefferies Financial Group restated a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. Morgan Stanley began coverage on shares of Baker Hughes in a research note on Friday, August 7th. They set an “overweight” rating and a $70.00 target price for the company. Wolfe Research began coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price for the company. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Citigroup lifted their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.81.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $56.78 on Tuesday. Baker Hughes Company has a 52 week low of $43.92 and a 52 week high of $70.41. The stock has a market cap of $56.36 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.64 and a beta of 0.96. The company’s 50-day moving average price is $60.72 and its two-hundred day moving average price is $61.51. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that Baker Hughes Company will post 2.51 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s payout ratio is currently 29.68%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes 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. The trade was a 20.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company’s portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.