Westwood Holdings Group Inc. Makes New Investment in Baker Hughes (NASDAQ:BKR)

Westwood Holdings Group Inc. purchased a new position in shares of Baker Hughes (NASDAQ:BKR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,178 shares of the company’s stock, valued at approximately $288,000.

A number of other institutional investors have also recently bought and sold shares of BKR. UMB Bank n.a. raised its holdings in Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Baker Hughes by 6.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after purchasing an additional 490 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after purchasing an additional 520 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Baker Hughes by 0.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.9 %

Shares of NASDAQ:BKR opened at $36.04 on Monday. The firm has a market cap of $35.97 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 0.54 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $33.71. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. As a group, research analysts forecast that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.33%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BKR. Royal Bank of Canada boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Piper Sandler dropped their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. UBS Group dropped their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Morgan Stanley decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen boosted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $43.19.

Baker Hughes Company Profile

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.