Baker Hughes Company $BKR Shares Sold by Capital World Investors

Capital World Investors decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 0.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 47,234,954 shares of the company’s stock after selling 311,434 shares during the quarter. Capital World Investors’ holdings in Baker Hughes were worth $2,151,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Cullen Frost Bankers Inc. increased its stake in Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in Baker Hughes by 55.6% during the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after acquiring an additional 300 shares during the last quarter. Hilltop National Bank increased its stake in Baker Hughes by 26.7% during the fourth quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in Baker Hughes by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the company’s stock worth $66,000 after acquiring an additional 345 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In other news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 282,745 shares of company stock valued at $16,651,472. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BKR has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Citigroup cut their target price on Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $80.00 target price on shares of Baker Hughes in a research note on Sunday, April 26th. TD Cowen raised their target price on Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, UBS Group lifted their price objective on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.14.

Baker Hughes Trading Down 5.3%

Shares of NASDAQ BKR opened at $62.59 on Friday. Baker Hughes Company has a twelve month low of $37.38 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 stock has a fifty day simple moving average of $63.91 and a 200-day simple moving average of $57.34. The stock has a market capitalization of $62.09 billion, a PE ratio of 20.00, a PEG ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes Company will post 2.31 earnings per share 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 $0.23 dividend. 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 payout ratio 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.