Dynasty Wealth Management LLC Makes New $235,000 Investment in Baker Hughes (NASDAQ:BKR)

Dynasty Wealth Management LLC purchased a new position in Baker Hughes (NASDAQ:BKR) in the first quarter, Holdings Channel reports. The fund purchased 7,007 shares of the company’s stock, valued at approximately $235,000.

Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its position in shares of Baker Hughes by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 968,208 shares of the company’s stock worth $32,432,000 after purchasing an additional 14,610 shares during the last quarter. Econ Financial Services Corp acquired a new position in Baker Hughes in the 1st quarter valued at approximately $957,000. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Baker Hughes by 26.7% in the 1st quarter. Lazard Asset Management LLC now owns 25,882 shares of the company’s stock valued at $866,000 after acquiring an additional 5,454 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Baker Hughes by 28.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 647,795 shares of the company’s stock valued at $21,701,000 after acquiring an additional 145,095 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

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

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $38.72 on Thursday. The business’s fifty day simple moving average is $33.98 and its 200 day simple moving average is $32.39. The firm has a market capitalization of $38.64 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, analysts anticipate that Baker Hughes will post 2.19 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.17%. Baker Hughes’s payout ratio is 46.93%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI upped their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company increased their price target on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday. Piper Sandler dropped their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada raised their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.