D.A. Davidson & CO. Cuts Holdings in Baker Hughes Company $BKR

D.A. Davidson & CO. decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 19.1% in the fourth quarter, HoldingsChannel reports. The firm owned 80,124 shares of the company’s stock after selling 18,890 shares during the quarter. D.A. Davidson & CO.’s holdings in Baker Hughes were worth $3,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after purchasing an additional 598,159 shares in the last quarter. Capital World Investors grew its position in shares of Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. Capital Research Global Investors grew its position in shares of Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after purchasing an additional 1,728,016 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after purchasing an additional 638,640 shares in the last quarter. Finally, Capital International Investors purchased a new position in shares of Baker Hughes during the third quarter valued at about $729,670,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.2%

BKR opened at $69.67 on Friday. The firm has a market cap of $68.85 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.41 and a beta of 0.90. Baker Hughes Company has a 12 month low of $35.10 and a 12 month high of $70.41. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $61.92 and a 200 day moving average of $54.29.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. As a group, research analysts forecast that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.3%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BKR shares. UBS Group raised their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada raised their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup raised their price objective on Baker Hughes from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research lowered Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Nineteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the firm’s 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 sale, the chief accounting officer owned 14,019 shares of the company’s stock, valued at $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock worth $35,311,023 in the last ninety days. 0.19% of the stock is currently owned by company insiders.

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.