Retireful LLC Sells 23,425 Shares of Baker Hughes Company $BKR

Retireful LLC trimmed its position in Baker Hughes Company (NASDAQ:BKR) by 84.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,287 shares of the company’s stock after selling 23,425 shares during the period. Retireful LLC’s holdings in Baker Hughes were worth $238,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC increased its holdings in Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after acquiring an additional 163 shares during the period. Resolute Wealth Strategies LLC lifted its stake in Baker Hughes by 2.7% in the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after purchasing an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Baker Hughes by 10.5% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after purchasing an additional 179 shares during the period. 3Chopt Investment Partners LLC boosted its holdings in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after purchasing an additional 203 shares during the period. Finally, Evolve Private Wealth LLC grew its position in shares of Baker Hughes by 2.4% during the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock valued at $529,000 after purchasing an additional 203 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BKR shares. Royal Bank Of Canada upped their price target on shares of Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Stifel Nicolaus lifted their price objective on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Morgan Stanley began coverage on Baker Hughes in a research report on Friday, August 7th. They set an “overweight” rating and a $70.00 target price for the company. Capital One Financial upped their target price on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Zacks Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Baker Hughes Trading Up 1.5%

BKR stock opened at $64.63 on Thursday. The company has a market capitalization of $64.16 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. Baker Hughes Company has a one year low of $43.92 and a one year high of $70.41. The company’s 50 day moving average price is $59.61 and its two-hundred day moving average price is $61.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio is 29.68%.

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.