Savant Capital LLC Has $1.31 Million Holdings in Baker Hughes Company $BKR

Savant Capital LLC lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 63.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,847 shares of the company’s stock after selling 50,275 shares during the quarter. Savant Capital LLC’s holdings in Baker Hughes were worth $1,314,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its position in 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 buying an additional 468 shares during the last quarter. JFS Wealth Advisors LLC increased its position 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 buying an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its position 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 buying an additional 300 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Baker Hughes by 23.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after buying an additional 270 shares during the last quarter. Finally, Hilltop National Bank increased its position 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 buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BKR. UBS Group boosted their price target on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Piper Sandler boosted their price target on Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Citigroup upped their target price on Baker Hughes from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Barclays reaffirmed an “equal weight” rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 SEC filing for this sale provides additional information. Insiders have sold 550,250 shares of company stock worth $32,988,331 in the last three months. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Trading Down 1.4%

Shares of NASDAQ:BKR opened at $62.97 on Tuesday. The company has a market capitalization of $62.47 billion, a P/E ratio of 20.12, a P/E/G ratio of 2.27 and a beta of 0.97. Baker Hughes Company has a 1 year low of $36.82 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The business’s 50 day simple moving average is $63.74 and its 200 day simple moving average is $56.95.

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

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 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.