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Creative Planning Has $415,000 Position in Baker Hughes (NASDAQ:BKR)

Defense World · Feb 4, 2023 06:11

Creative Planning raised its position in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 22.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,812 shares of the company's stock after purchasing an additional 3,690 shares during the quarter. Creative Planning's holdings in Baker Hughes were worth $415,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BKR. JPMorgan Chase & Co. raised its stake in Baker Hughes by 96.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company's stock valued at $1,093,660,000 after purchasing an additional 18,629,874 shares during the period. FMR LLC increased its stake in shares of Baker Hughes by 41.2% in the second quarter. FMR LLC now owns 26,877,366 shares of the company's stock worth $775,950,000 after acquiring an additional 7,836,906 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Baker Hughes by 214.6% in the second quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company's stock worth $300,193,000 after acquiring an additional 7,092,424 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Baker Hughes by 104.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,411,529 shares of the company's stock worth $185,101,000 after acquiring an additional 3,280,083 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Baker Hughes by 4.5% in the second quarter. State Street Corp now owns 65,088,442 shares of the company's stock worth $1,879,103,000 after acquiring an additional 2,796,843 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Gregory D. Brenneman sold 85,000 shares of the company's stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the completion of the transaction, the director now owns 16,842 shares of the company's stock, valued at $525,975.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total value of $303,454.23. Following the completion of the transaction, the executive vice president now owns 59,463 shares of the company's stock, valued at $1,839,190.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory D. Brenneman sold 85,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the completion of the transaction, the director now directly owns 16,842 shares of the company's stock, valued at approximately $525,975.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,114 shares of company stock valued at $9,120,434. Insiders own 0.29% of the company's stock.

Baker Hughes Stock Up 0.5 %

BKR stock opened at $31.37 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.90. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The company has a 50-day moving average of $29.67 and a two-hundred day moving average of $26.97. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of -52.28 and a beta of 1.50.

Baker Hughes (NASDAQ:BKR – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $6.07 billion. Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The firm's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Baker Hughes will post 1.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Monday, February 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, February 3rd. Baker Hughes's dividend payout ratio is currently -126.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Baker Hughes from $30.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, November 18th. ATB Capital dropped their price target on shares of Baker Hughes to $37.00 in a research note on Thursday, October 20th. Morgan Stanley upped their price target on shares of Baker Hughes from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 4th. HSBC upped their price objective on shares of Baker Hughes from $33.30 to $39.00 in a report on Monday, January 30th. Finally, Bank of America upped their price objective on shares of Baker Hughes from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, October 20th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.21.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.