Baker Hughes Company $BKR Stock Position Lowered by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 202,742 shares of the company’s stock after selling 18,096 shares during the period. IFM Investors Pty Ltd’s holdings in Baker Hughes were worth $12,377,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. EFG International AG acquired a new position in Baker Hughes during the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its position in Baker Hughes by 344.1% during the 4th 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 period. Quarry LP acquired a new stake in Baker Hughes during the 4th quarter worth about $31,000. MV Capital Management Inc. purchased a new position in Baker Hughes during the 4th quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Baker Hughes during the 4th quarter valued at about $35,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Down 3.0%

Shares of NASDAQ:BKR opened at $53.82 on Thursday. 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 market capitalization of $53.39 billion, a PE ratio of 17.19, a P/E/G ratio of 2.00 and a beta of 0.97. Baker Hughes Company has a 1 year low of $38.37 and a 1 year high of $70.41. The firm has a fifty day moving average price of $63.28 and a 200 day moving average price of $58.75.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. Analysts expect that Baker Hughes Company will post 2.28 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is 29.39%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 367,910 shares of company stock valued at $22,420,797. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BKR. Argus increased their price target on shares of Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. UBS Group increased their target price on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada lifted their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $70.48.

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.