TCW Group Inc. Acquires 150,769 Shares of Baker Hughes (NASDAQ:BKR)

TCW Group Inc. boosted its holdings in shares of Baker Hughes (NASDAQ:BKR) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,460,776 shares of the company’s stock after acquiring an additional 150,769 shares during the quarter. TCW Group Inc. owned 0.14% of Baker Hughes worth $42,158,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BKR. Jefferies Financial Group Inc. bought a new stake in shares of Baker Hughes in the 4th quarter valued at $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Baker Hughes in the 1st quarter valued at $34,000. Portland Hill Asset Management Ltd bought a new stake in shares of Baker Hughes in the 4th quarter valued at $36,000. BDO Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at $36,000. Finally, Covestor Ltd boosted its stake in shares of Baker Hughes by 104.7% in the 1st quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after purchasing an additional 690 shares during the last quarter. 92.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TheStreet raised shares of Baker Hughes from a “c+” rating to a “b-” rating in a research note on Tuesday, July 18th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $32.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, July 20th. Capital One Financial initiated coverage on shares of Baker Hughes in a research report on Wednesday, June 7th. They set an “overweight” rating and a $38.00 target price on the stock. Citigroup boosted their target price on shares of Baker Hughes from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Piper Sandler boosted their target price on shares of Baker Hughes from $43.00 to $47.00 in a research report on Monday. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $38.44.

Baker Hughes Price Performance

BKR opened at $37.44 on Monday. The firm has a market cap of $37.80 billion, a P/E ratio of 32.92 and a beta of 1.52. The firm has a 50-day moving average of $35.14 and a 200 day moving average of $31.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.28. Baker Hughes has a fifty-two week low of $20.42 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, July 19th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.27 billion. Baker Hughes had a net margin of 4.94% and a return on equity of 9.01%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. On average, research analysts expect that Baker Hughes will post 1.53 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Tuesday, August 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, August 7th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.19. Baker Hughes’s dividend payout ratio (DPR) is currently 70.80%.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 3,195 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $29.93, for a total transaction of $95,626.35. Following the completion of the transaction, the senior vice president now owns 8,147 shares in the company, valued at $243,839.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP James E. Apostolides sold 3,195 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $29.93, for a total value of $95,626.35. Following the completion of the transaction, the senior vice president now directly owns 8,147 shares in the company, valued at $243,839.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Regina Jones sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $35.60, for a total transaction of $356,000.00. Following the completion of the transaction, the insider now owns 72,873 shares of the company’s stock, valued at $2,594,278.80. The disclosure for this sale can be found here. Insiders sold 165,695 shares of company stock worth $5,871,551 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.