Rathbones Group PLC Grows Stock Position in Baker Hughes Company $BKR

Rathbones Group PLC increased its stake in Baker Hughes Company (NASDAQ:BKR) by 99.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,969 shares of the company’s stock after acquiring an additional 8,950 shares during the period. Rathbones Group PLC’s holdings in Baker Hughes were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BKR. Woodline Partners LP raised its stake in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after acquiring an additional 24,225 shares during the last quarter. Focus Partners Wealth grew 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 purchasing an additional 986 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Baker Hughes in the second quarter worth about $2,301,000. NewEdge Advisors LLC increased its holdings in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in Baker Hughes during the 2nd quarter valued at about $1,014,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock valued at $22,420,797 in the last three months. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BKR shares. Zacks Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday. HSBC boosted 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. UBS Group set a $51.00 target price on Baker Hughes in a report on Tuesday, July 28th. Finally, TD Cowen raised their price target on Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.95.

Baker Hughes Stock Performance

Baker Hughes stock opened at $61.73 on Wednesday. Baker Hughes Company has a fifty-two week low of $41.96 and a fifty-two week high of $70.41. The stock’s 50 day simple moving average is $59.15 and its two-hundred day simple moving average is $60.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The stock has a market cap of $61.28 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.93 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Baker Hughes Company will post 2.46 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a $0.23 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is 29.68%.

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.