Insider Selling: Baker Hughes (NASDAQ:BKR) Director Sells 18,023 Shares of Stock

Baker Hughes Company (NASDAQ:BKR) Director William Beattie sold 18,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Baker Hughes Trading Down 3.1%

Shares of NASDAQ:BKR traded down $1.81 during trading on Thursday, reaching $57.36. 13,419,602 shares of the company traded hands, compared to its average volume of 9,876,465. The firm has a market capitalization of $56.60 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 0.89. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $49.94 and its 200-day moving average is $47.60. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $59.54.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Activest Wealth Management increased its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after acquiring an additional 337 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BKR shares. Bank of America boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Susquehanna upped their price target on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. TD Cowen lifted their price objective on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, Capital One Financial boosted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.30.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.