Nisa Investment Advisors LLC Boosts Stock Holdings in Baker Hughes Company $BKR

Nisa Investment Advisors LLC raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,286 shares of the company’s stock after purchasing an additional 11,735 shares during the period. Nisa Investment Advisors LLC’s holdings in Baker Hughes were worth $8,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital International Investors purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $729,670,000. First Trust Advisors LP increased its holdings in Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after acquiring an additional 3,203,942 shares during the last quarter. Capital World Investors raised its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Sei Investments Co. raised its stake in Baker Hughes by 247.5% in the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after acquiring an additional 2,232,394 shares during the period. Finally, Invesco Ltd. lifted its holdings in Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after purchasing an additional 2,044,402 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research reports. iA Financial set a $60.00 target price on shares of Baker Hughes in a research report on Tuesday, January 27th. Argus upped their price target on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. TD Cowen raised their price objective on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Barclays lifted their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus boosted their target price on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.61.

Baker Hughes Stock Down 1.2%

BKR stock opened at $60.34 on Thursday. The stock has a 50-day simple moving average of $59.95 and a two-hundred day simple moving average of $52.14. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The firm has a market capitalization of $59.63 billion, a PE ratio of 23.21, a PEG ratio of 1.65 and a beta of 0.83. 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 announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts predict that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders 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 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 35.38%.

Insider Activity

In other Baker Hughes news, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This trade represents a 24.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca L. Charlton sold 843 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer owned 14,019 shares of the company’s stock, valued at $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is owned by company 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.