Baker Hughes Company $BKR Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,416,362 shares of the company’s stock after selling 344,619 shares during the period. Dimensional Fund Advisors LP owned about 1.15% of Baker Hughes worth $696,988,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BKR. Bleakley Financial Group LLC increased its stake in Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after buying an additional 163 shares during the period. Resolute Wealth Strategies LLC lifted its position 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 buying an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in Baker Hughes by 10.5% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after buying an additional 179 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after buying an additional 180 shares during the period. Finally, 3Chopt Investment Partners LLC boosted its stake in shares of Baker Hughes by 0.5% during the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after buying an additional 203 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BKR shares. Susquehanna dropped their price target on shares of Baker Hughes from $80.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Wolfe Research started coverage on Baker Hughes in a research report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 price objective for the company. Royal Bank Of Canada boosted their target price on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Monday. Finally, HSBC raised their price target on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.00.

Baker Hughes Price Performance

Baker Hughes stock opened at $55.95 on Monday. The company has a market capitalization of $55.51 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.32 and a beta of 0.96. The firm’s fifty day simple moving average is $60.85 and its 200-day simple moving average is $59.63. 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 1-year low of $38.97 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. Sell-side analysts forecast that Baker Hughes Company will post 2.27 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s payout ratio is currently 29.39%.

Insider Transactions at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock valued at $22,420,797 in the last ninety days. Insiders own 0.19% of the company’s stock.

Baker Hughes Company 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.