Pointe Capital Management LLC Invests $1.51 Million in Baker Hughes Company $BKR

Pointe Capital Management LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR) during the second quarter, Holdings Channel reports. The firm acquired 27,222 shares of the company’s stock, valued at approximately $1,511,000.

Several other large investors also recently added to or reduced their stakes in BKR. EFG International AG purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $26,000. Cullen Frost Bankers Inc. grew its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares in the last quarter. Quarry LP bought a new position in shares of Baker Hughes in the fourth quarter worth approximately $31,000. MV Capital Management Inc. purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $34,000. Finally, Acumen Wealth Advisors LLC bought a new stake in Baker Hughes during the fourth quarter valued at approximately $35,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.3%

BKR stock opened at $61.82 on Wednesday. The company has a market capitalization of $61.37 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes Company has a one year low of $43.92 and a one year high of $70.41. The company’s 50 day moving average price is $59.07 and its two-hundred day moving average price is $61.38.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s payout ratio is currently 29.68%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock valued at $22,420,797 over the last three months. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Citigroup lifted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Susquehanna increased their target price on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research note on Tuesday, July 28th. UBS Group set a $51.00 price target on Baker Hughes in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada lifted their price target on Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.67.

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.