Gabelli Funds LLC Purchases 15,200 Shares of Baker Hughes Company $BKR

Gabelli Funds LLC grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,600 shares of the company’s stock after purchasing an additional 15,200 shares during the quarter. Gabelli Funds LLC’s holdings in Baker Hughes were worth $11,868,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Activest Wealth Management boosted its stake in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its holdings in Baker Hughes by 104.0% in 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 last quarter. LFA Lugano Financial Advisors SA bought a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Baker Hughes by 66.6% during the second quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock worth $48,000 after buying an additional 496 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,593 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $61.13, for a total value of $16,663,610.09. Following the sale, the chief executive officer owned 672,810 shares of the company’s stock, valued at $41,128,875.30. The trade was a 28.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 312,594 shares of company stock valued at $18,986,302 over the last quarter. 0.27% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $59.81 on Monday. The firm has a market capitalization of $59.11 billion, a PE ratio of 23.00, a PEG ratio of 1.62 and a beta of 0.83. 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 1-year low of $33.60 and a 1-year high of $67.00. The business’s 50 day moving average is $56.13 and its 200-day moving average is $50.37.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.Baker Hughes’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Sell-side analysts predict 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 was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 35.38%.

Baker Hughes News Summary

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes’ weekly rig count showed U.S. drillers added oil and gas rigs for the first time in four weeks, a sign of improving activity that supports demand for BKR’s services. US drillers add oil, gas rigs for first time in four weeks, Baker Hughes says
• Positive Sentiment: Baker Hughes successfully priced $6.5B of U.S. senior notes and €3B of euro notes across multiple maturities; the sales show investor demand and provide cash to help fund the Chart Industries takeover. Baker Hughes Successfully Prices $6.5 Billion and €3 Billion Offerings of Senior Notes
• Positive Sentiment: At least one sell-side note expects upside for BKR, providing support to the equity narrative. Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, BMO Capital Markets Analyst Says
• Positive Sentiment: Widening geopolitical risk after the death of Iran’s Supreme Leader is reshaping energy markets; higher oil-price risk can boost activity and service revenues over time. The Iran War Is Reshaping Energy Markets and These Stocks Win Big
• Neutral Sentiment: Earlier media reports said Baker Hughes planned a ~$10B cross-border bond sale to help finance the Chart acquisition—this was a precursor to the priced notes and mostly confirms the financing plan. Baker Hughes Plans $10 Billion Bond Sale to Finance Chart Industries Acquisition
• Neutral Sentiment: Reported short-interest figures are showing zero shares (likely a data/ reporting artifact) and are not informative for current positioning. (Data entry)
• Negative Sentiment: CEO Lorenzo Simonelli sold 272,593 shares (~$16.7M) on March 4, reducing his stake by ~29% — a large insider sale that can weigh on sentiment. SEC filing: SEC Form 4
• Negative Sentiment: Multiple other recent insider sales are documented (Quiver summary), which may amplify investor concern about insider liquidity and timing around the Chart acquisition. Quiver: Debt offerings and insider activity

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna increased their price objective on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. 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 report on Wednesday, January 28th. Finally, BMO Capital Markets raised their price target on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Twenty equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.61.

About Baker Hughes

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.