ProShare Advisors LLC Sells 284,079 Shares of Baker Hughes Company $BKR

ProShare Advisors LLC lowered its holdings in Baker Hughes Company (NASDAQ:BKR) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,272,045 shares of the company’s stock after selling 284,079 shares during the quarter. ProShare Advisors LLC owned approximately 0.13% of Baker Hughes worth $61,974,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Forum Financial Management LP lifted its holdings in Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of Baker Hughes by 1.3% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock worth $959,000 after purchasing an additional 257 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after purchasing an additional 275 shares in the last quarter. CWM LLC boosted its position in Baker Hughes by 0.6% during the third quarter. CWM LLC now owns 44,731 shares of the company’s stock valued at $2,179,000 after purchasing an additional 287 shares in the last quarter. Finally, STF Management LP grew its stake in Baker Hughes by 2.2% in the second quarter. STF Management LP now owns 14,987 shares of the company’s stock valued at $575,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.1%

Baker Hughes stock opened at $59.55 on Tuesday. The business’s 50-day simple moving average is $50.30 and its two-hundred day simple moving average is $47.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The company has a market cap of $58.76 billion, a PE ratio of 22.90, a PEG ratio of 1.59 and a beta of 0.89. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $59.84.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is 35.38%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BKR shares. Bank of America increased their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. BMO Capital Markets increased their target price on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. JPMorgan Chase & Co. upped 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. Finally, Zephirin Group increased their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.30.

Insider Buying and Selling at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 843 shares of Baker Hughes stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the transaction, the chief accounting officer owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,851 shares of company stock worth $1,190,736. 0.27% of the stock is owned by company insiders.

Baker Hughes 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.