Tradewinds LLC. Has $7.76 Million Stake in Baker Hughes Company $BKR

Tradewinds LLC. decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,157 shares of the company’s stock after selling 9,868 shares during the quarter. Baker Hughes makes up about 2.9% of Tradewinds LLC.’s investment portfolio, making the stock its 11th largest position. Tradewinds LLC.’s holdings in Baker Hughes were worth $7,763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Woodline Partners LP grew its holdings in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after acquiring an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the last quarter. Jump Financial LLC bought a new position in shares of Baker Hughes in the second quarter worth about $2,301,000. NewEdge Advisors LLC lifted its position in shares of Baker Hughes by 4.0% during the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after purchasing an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in shares of Baker Hughes during the second quarter worth approximately $1,014,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Key Headlines Impacting Baker Hughes

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes won EU antitrust approval for its $13.6 billion acquisition of Chart Industries after agreeing to divest certain LNG technology assets, removing a key regulatory hurdle for the deal. Baker Hughes wins conditional EU nod for $13.6 billion Chart deal
• Positive Sentiment: The company also secured substantial equipment and services awards for Cheniere’s Sabine Pass LNG facility, including liquefaction equipment and turbine upgrades, reinforcing growth in its LNG infrastructure business. Baker Hughes Secures Substantial Equipment and Services Awards for Cheniere’s Sabine Pass LNG Facility
• Positive Sentiment: Reuters reported that U.S. energy firms added rigs for a fourth straight week, which can signal steadier upstream activity and support demand for Baker Hughes’ oilfield services. US energy firms add rigs for fourth week in a row, says Baker Hughes
• Positive Sentiment: Wolfe Research initiated coverage with an “outperform” rating and a $70 price target, suggesting additional upside versus recent trading levels. The Fly coverage note
• Neutral Sentiment: Brokerage sentiment remains constructive overall, with Baker Hughes receiving an average “Moderate Buy” rating from analysts.
• Neutral Sentiment: Short-interest data showed no meaningful change in shares sold short, so it does not appear to be a major trading driver today.
• Negative Sentiment: One article noted Baker Hughes is closing a facility and laying off employees, which could raise restructuring concerns, though the impact appears secondary to the stronger LNG and deal-related headlines. HBJ: Baker Hughes closing facility, laying off employees

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKR. Evercore reissued an “outperform” rating and issued a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. Royal Bank Of Canada upped their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Wolfe Research assumed coverage on Baker Hughes in a research report on Wednesday. They issued an “outperform” rating and a $70.00 price objective on the stock. HSBC lifted their target price on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Citigroup boosted their target price on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $70.14.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

NASDAQ:BKR opened at $57.56 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12-month low of $38.37 and a 12-month high of $70.41. The stock’s fifty day simple moving average is $61.78 and its 200-day simple moving average is $59.22. The firm has a market capitalization of $57.10 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.06 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that Baker Hughes Company will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

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.