Jefferies Financial Group Inc. Buys Shares of 1,315,175 Baker Hughes Company $BKR

Jefferies Financial Group Inc. bought a new stake in shares of Baker Hughes Company (NASDAQ:BKR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,315,175 shares of the company’s stock, valued at approximately $59,893,000. Jefferies Financial Group Inc. owned 0.13% of Baker Hughes at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BKR. Capital International Investors purchased a new position in shares of Baker Hughes during the third quarter valued at approximately $729,670,000. Bessemer Group Inc. boosted its position in shares of Baker Hughes by 12,983.5% during the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after buying an additional 3,464,637 shares during the period. Capital World Investors boosted its position in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $119,078,000. Finally, First Trust Advisors LP boosted its position in shares of Baker Hughes by 25.7% during the third quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock valued at $454,334,000 after buying an additional 1,906,384 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BKR. Argus boosted their price target on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Royal Bank Of Canada boosted their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Capital One Financial boosted their price target on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday. Evercore reiterated an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Baker Hughes in a report on Sunday, April 26th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Baker Hughes Stock Up 0.4%

Baker Hughes stock opened at $66.06 on Friday. The business has a fifty day moving average of $62.80 and a two-hundred day moving average of $56.18. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market cap of $65.54 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.35 and a beta of 0.97. Baker Hughes Company has a twelve month low of $36.03 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Insiders Place Their Bets

In other Baker Hughes 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 owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 550,250 shares of company stock valued at $32,988,331. 0.19% 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.