NEOS Investment Management LLC Grows Stock Holdings in Baker Hughes Company $BKR

NEOS Investment Management LLC boosted its stake in Baker Hughes Company (NASDAQ:BKR) by 13.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 759,404 shares of the company’s stock after purchasing an additional 91,512 shares during the period. NEOS Investment Management LLC’s holdings in Baker Hughes were worth $42,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in Baker Hughes during the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. increased its holdings in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after purchasing an additional 468 shares during the period. Quarry LP purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $31,000. MV Capital Management Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $34,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $35,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Baker Hughes Trading Down 1.5%

Shares of BKR stock opened at $63.64 on Friday. The business’s fifty day moving average price is $59.75 and its 200 day moving average price is $61.55. The firm has a market capitalization of $63.17 billion, a PE ratio of 20.53, a P/E/G ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. Baker Hughes Company has a 1-year low of $43.92 and a 1-year high of $70.41.

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

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is currently 29.68%.

Analyst Ratings Changes

BKR has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Baker Hughes in a research report on Thursday, July 9th. Susquehanna upped their price objective on shares of Baker Hughes from $70.00 to $72.00 and gave the stock a “positive” rating in a research report on Tuesday, July 28th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Capital One Financial lifted their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Finally, Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

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.