15,748 Shares in Baker Hughes Company $BKR Purchased by Everstar Asset Management LLC

Everstar Asset Management LLC purchased a new position in shares of Baker Hughes Company (NASDAQ:BKR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,748 shares of the company’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Baker Hughes during the third quarter worth about $65,000. Finally, Hilltop National Bank boosted its holdings in Baker Hughes by 26.7% during the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after purchasing an additional 300 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 0.8%

Baker Hughes stock opened at $64.12 on Friday. Baker Hughes Company has a 1-year low of $35.83 and a 1-year high of $70.41. The firm has a market capitalization of $63.61 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 2.35 and a beta of 0.97. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The firm has a 50 day simple moving average of $62.16 and a 200 day simple moving average of $55.54.

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

Baker Hughes Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BKR shares. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Evercore reiterated an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Piper Sandler boosted their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, UBS Group boosted their target price on shares of Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.18.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This trade represents a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 550,250 shares of company stock worth $32,988,331 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Baker Hughes 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.