Baker Hughes Company $BKR Shares Sold by Fieldview Capital Management LLC

Fieldview Capital Management LLC lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 52.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,785 shares of the company’s stock after selling 15,041 shares during the quarter. Fieldview Capital Management LLC’s holdings in Baker Hughes were worth $628,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Baker Hughes by 34.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,356,199 shares of the company’s stock valued at $61,761,000 after acquiring an additional 344,787 shares in the last quarter. Icon Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 11.7% during the fourth quarter. Icon Wealth Advisors LLC now owns 5,905 shares of the company’s stock valued at $269,000 after acquiring an additional 617 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in shares of Baker Hughes during the fourth quarter valued at about $1,888,000. Eventide Asset Management LLC increased its holdings in Baker Hughes by 1,042.6% in the 4th quarter. Eventide Asset Management LLC now owns 349,974 shares of the company’s stock worth $15,971,000 after buying an additional 319,345 shares during the period. Finally, Arax Advisory Partners increased its holdings in Baker Hughes by 247.6% in the 4th quarter. Arax Advisory Partners now owns 13,310 shares of the company’s stock worth $606,000 after buying an additional 9,481 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup cut their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Piper Sandler increased their price target on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Zacks Research downgraded shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, TD Cowen increased their price target on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $62.46 on Tuesday. The company has a market cap of $61.96 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. Baker Hughes Company has a twelve month low of $37.38 and a twelve month high of $70.41. The company’s 50 day moving average is $64.16 and its 200 day moving average is $58.03. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, sell-side analysts forecast that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

About Baker Hughes

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.