Insider Selling: James W. Stewart Unloads 50,981 Shares of Baker Hughes Stock (BHI)
Baker Hughes (NYSE:BHI) Director James W. Stewart sold 50,981 shares of the company’s stock on the open market in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $69.90, for a total transaction of $3,563,571.90. Following the completion of the sale, the director now directly owns 286,817 shares of the company’s stock, valued at approximately $20,048,508. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Baker Hughes (NYSE:BHI) traded down 1.80% on Thursday, hitting $68.92. The stock had a trading volume of 4,643,738 shares. Baker Hughes has a 52 week low of $43.34 and a 52 week high of $71.52. The stock’s 50-day moving average is $67.51 and its 200-day moving average is $60.09. The company has a market cap of $30.048 billion and a P/E ratio of 26.90.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.06. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the company posted $0.65 earnings per share. Baker Hughes’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post $4.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Monday, August 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, July 31st. This is an increase from Baker Hughes’s previous quarterly dividend of $0.15.
A number of analysts have recently weighed in on BHI shares. Analysts at Credit Suisse raised their price target on shares of Baker Hughes from $83.00 to $96.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Tudor Pickering upgraded shares of Baker Hughes from an “accumulate” rating to a “buy” rating in a research note on Monday. Finally, analysts at Global Hunter Securities upgraded shares of Baker Hughes from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $80.00 price target on the stock, up previously from $60.00. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.29.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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