Options Solutions LLC Purchases New Stake in Baker Hughes (NASDAQ:BKR)

Options Solutions LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,900 shares of the company’s stock, valued at approximately $646,000.

Several other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new position in Baker Hughes during the fourth quarter worth about $4,813,000. Nordea Investment Management AB boosted its holdings in Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after buying an additional 1,283,296 shares during the last quarter. Cibc World Markets Corp boosted its holdings in Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after buying an additional 102,174 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after buying an additional 97,108 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Baker Hughes by 101.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock worth $81,484,000 after buying an additional 1,200,407 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BKR shares. UBS Group raised their price target on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Morgan Stanley raised their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Finally, The Goldman Sachs Group raised their price target on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $41.13.

Baker Hughes Trading Down 1.7 %

Shares of Baker Hughes stock opened at $31.09 on Friday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58. The stock has a market cap of $31.03 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.55 and a beta of 1.43. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $32.52 and its 200-day moving average is $32.00.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, 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 is accessible through this link. In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction on 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 owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.