Baker Hughes Company $BKR Shares Sold by Capital Research Global Investors

Capital Research Global Investors cut its stake in Baker Hughes Company (NASDAQ:BKR) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,757,875 shares of the company’s stock after selling 145,366 shares during the quarter. Capital Research Global Investors owned approximately 2.61% of Baker Hughes worth $1,173,025,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BKR. Cullen Frost Bankers Inc. lifted its holdings in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 45.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Wolff Wiese Magana LLC lifted its holdings in Baker Hughes by 55.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the period. Hilltop National Bank raised its stake in shares of Baker Hughes by 26.7% during the 4th quarter. Hilltop National Bank now owns 1,423 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Baker Hughes by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the company’s stock valued at $66,000 after buying an additional 345 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In related news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 282,745 shares of company stock valued at $16,651,472. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BKR shares. Royal Bank Of Canada increased their target price on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. UBS Group increased their target price on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Argus increased their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $69.14.

Baker Hughes Stock Down 5.3%

NASDAQ BKR opened at $62.59 on Friday. The business has a fifty day moving average price of $63.91 and a 200 day moving average price of $57.34. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a market cap of $62.09 billion, a P/E ratio of 20.00, a P/E/G ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company earned $0.51 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is currently 29.39%.

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.