Capital International Sarl Purchases 8,060 Shares of Baker Hughes (NASDAQ:BKR)

Capital International Sarl grew its position in Baker Hughes (NASDAQ:BKR) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,242 shares of the company’s stock after acquiring an additional 8,060 shares during the period. Capital International Sarl’s holdings in Baker Hughes were worth $4,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BKR. Spire Wealth Management increased its holdings in shares of Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the first quarter valued at approximately $27,000. Montag A & Associates Inc. increased its holdings in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Baker Hughes by 281.2% in the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Rise Advisors LLC increased its holdings in shares of Baker Hughes by 46.9% in the first quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after purchasing an additional 532 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a report on Friday. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. Finally, Bank of America lowered their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.92.

Baker Hughes Stock Up 5.8 %

NASDAQ:BKR traded up $2.07 on Friday, hitting $37.65. 10,249,696 shares of the company’s stock were exchanged, compared to its average volume of 7,561,199. The firm has a 50-day moving average price of $33.64 and a 200-day moving average price of $32.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.78. The company has a market cap of $37.57 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts expect that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.23%. Baker Hughes’s payout ratio is 46.93%.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.