Baker Hughes Company $BKR Position Reduced by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 43.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,832 shares of the company’s stock after selling 20,779 shares during the quarter. Securian Asset Management Inc.’s holdings in Baker Hughes were worth $1,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Activest Wealth Management lifted its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after buying an additional 300 shares during the last quarter. Spire Wealth Management increased its holdings in Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after buying an additional 798 shares during the last quarter. Finally, N.E.W. Advisory Services LLC raised its stake in Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock valued at $54,000 after buying an additional 416 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the subject of several research reports. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Barclays reissued an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Baker Hughes in a report on Monday, April 27th. Zacks Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, iA Financial set a $60.00 target price on shares of Baker Hughes in a report on Tuesday, January 27th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.18.

Baker Hughes Stock Up 1.0%

Shares of Baker Hughes stock opened at $65.24 on Wednesday. The stock has a market capitalization of $64.72 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.35 and a beta of 0.97. Baker Hughes Company has a twelve month low of $35.83 and a twelve 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 business’s 50 day simple moving average is $62.04 and its 200-day simple moving average is $55.25.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The business 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 business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities research analysts forecast that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s payout ratio is 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. This trade represents a 24.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 550,250 shares of company stock valued at $32,988,331. Corporate insiders own 0.19% of the company’s stock.

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.