American Century Companies Inc. Sells 1,442,649 Shares of Baker Hughes Company $BKR

American Century Companies Inc. lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 19.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,160,154 shares of the company’s stock after selling 1,442,649 shares during the period. American Century Companies Inc.’s holdings in Baker Hughes were worth $300,123,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BKR. Erste Asset Management GmbH boosted its position in shares of Baker Hughes by 108.6% during the third quarter. Erste Asset Management GmbH now owns 30,300 shares of the company’s stock valued at $1,532,000 after buying an additional 15,775 shares during the period. Artisan Partners Limited Partnership increased its position in Baker Hughes by 3.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock valued at $843,653,000 after purchasing an additional 638,640 shares during the period. DNB Asset Management AS lifted its holdings in Baker Hughes by 1.9% during the third quarter. DNB Asset Management AS now owns 200,795 shares of the company’s stock worth $9,783,000 after buying an additional 3,719 shares during the period. Choreo LLC boosted its position in Baker Hughes by 3.2% during the third quarter. Choreo LLC now owns 32,046 shares of the company’s stock valued at $1,561,000 after purchasing an additional 995 shares in the last quarter. Finally, Interchange Capital Partners LLC purchased a new position in shares of Baker Hughes in the 3rd quarter worth approximately $214,000. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of several recent analyst reports. Johnson Rice began coverage on Baker Hughes in a research report on Wednesday. They set a “buy” rating and a $68.00 target price on the stock. Piper Sandler lifted their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. UBS Group increased their price target on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Finally, Capital One Financial raised their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.39.

Insider Activity at Baker Hughes

In other news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,001 shares of company stock valued at $2,322,692. Company insiders own 0.27% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $65.26 on Friday. The firm has a market capitalization of $64.49 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $65.78. The company’s fifty day moving average price is $54.51 and its 200 day moving average price is $49.61.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Baker Hughes’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.

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.