Fieldview Capital Management LLC Buys New Position in Baker Hughes Company $BKR

Fieldview Capital Management LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 28,826 shares of the company’s stock, valued at approximately $1,404,000.

A number of other institutional investors also recently modified their holdings of BKR. Activest Wealth Management raised its stake in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Baker Hughes in the 2nd quarter worth about $36,000. Rothschild Investment LLC lifted its stake in shares of Baker Hughes by 66.6% in the 2nd quarter. Rothschild Investment LLC now owns 1,241 shares of the company’s stock valued at $48,000 after purchasing an additional 496 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after purchasing an additional 798 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

BKR stock opened at $60.10 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The business has a 50-day simple moving average of $56.42 and a two-hundred day simple moving average of $50.49. The company has a market capitalization of $59.39 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.83. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $67.00.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BKR shares. Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price for the company. Citigroup raised their price objective on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. BMO Capital Markets increased their price objective 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. Finally, Evercore reaffirmed an “outperform” rating and set a $68.00 price target on shares of Baker Hughes in a research note on Wednesday, February 11th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $59.61.

Insider Activity

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction 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 transaction, the insider directly owned 14,588 shares of the company’s stock, valued at $862,296.68. The trade was a 56.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The SEC filing for this sale provides additional information. Insiders sold 312,594 shares of company stock valued at $18,986,302 over the last quarter. 0.27% of the stock is owned by insiders.

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.