WBI Investments LLC Invests $1.06 Million in Baker Hughes Company $BKR

WBI Investments LLC acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 21,734 shares of the company’s stock, valued at approximately $1,059,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares during the last quarter. Capital World Investors grew its holdings in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Capital Research Global Investors raised its position in Baker Hughes by 7.1% in the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after purchasing an additional 1,728,016 shares during the period. Norges Bank purchased a new stake in Baker Hughes in the 2nd quarter worth about $862,722,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after buying an additional 638,640 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the transaction, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 590,251 shares of company stock worth $35,311,023 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Capital One Financial increased their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. UBS Group boosted their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Finally, Argus raised their price target on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

Baker Hughes Stock Up 3.3%

Shares of NASDAQ:BKR opened at $57.00 on Wednesday. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $67.00. The stock has a market cap of $56.33 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.83. The business’s 50 day moving average is $57.58 and its 200 day moving average is $50.99. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last released 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 company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period last year, the business posted $0.70 EPS. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

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