Baker Hughes Company $BKR Shares Sold by Capital Research Global Investors

Capital Research Global Investors cut its stake in Baker Hughes Company (NASDAQ:BKR) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,757,875 shares of the company’s stock after selling 145,366 shares during the quarter. Capital Research Global Investors’ holdings in Baker Hughes were worth $1,173,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BKR. Norges Bank acquired a new stake in shares of Baker Hughes in the 4th quarter worth $1,022,491,000. Capital International Investors acquired a new stake in shares of Baker Hughes in the 3rd quarter worth $729,670,000. Bessemer Group Inc. increased its stake in shares of Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after acquiring an additional 3,464,637 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Baker Hughes in the 4th quarter worth $144,262,000. Finally, Capital World Investors increased its stake in shares of Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, 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 legal filing with the SEC, which is available through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares of the company’s stock, valued at $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 282,745 shares of company stock worth $16,651,472 in the last three months. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on BKR shares. HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. Citigroup lowered their price target on Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets increased their price target on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, Barclays reiterated an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Eighteen investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Baker Hughes Stock Performance

NASDAQ BKR opened at $62.59 on Friday. The stock has a market cap of $62.09 billion, a PE ratio of 20.00, a P/E/G ratio of 2.23 and a beta of 0.93. 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 Company has a twelve month low of $37.38 and a twelve month high of $70.41. The stock has a fifty day simple moving average of $63.91 and a 200-day simple moving average of $57.34.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 EPS 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 company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the business posted $0.51 EPS. Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

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.