Nwam LLC Buys Shares of 9,127 Baker Hughes Company $BKR

Nwam LLC bought a new stake in Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,127 shares of the company’s stock, valued at approximately $416,000.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after purchasing an additional 598,159 shares during the last quarter. Capital World Investors increased its position in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Capital Research Global Investors increased its position in shares of Baker Hughes by 7.1% during 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 last quarter. Artisan Partners Limited Partnership increased its position in shares of Baker Hughes by 3.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after purchasing an additional 638,640 shares during the last quarter. Finally, Capital International Investors acquired a new position in shares of Baker Hughes during the 3rd quarter worth approximately $729,670,000. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BKR. Piper Sandler boosted their price target on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Capital One Financial boosted their price target on Baker Hughes from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. HSBC boosted their price target on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.18.

Baker Hughes Stock Performance

BKR opened at $65.24 on Wednesday. The business has a fifty day simple moving average of $62.04 and a 200 day simple moving average of $55.25. The company has a market capitalization of $64.72 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. Baker Hughes Company has a 1 year low of $35.83 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Research analysts expect that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.4%. Baker Hughes’s payout ratio is 29.39%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares in the company, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the company’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 sale, the insider owned 15,555 shares of the company’s stock, 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 550,250 shares of company stock valued at $32,988,331 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

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.