Baker Hughes Company $BKR Shares Sold by Burney Co.

Burney Co. reduced its position in Baker Hughes Company (NASDAQ:BKR) by 91.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,834 shares of the company’s stock after selling 130,226 shares during the quarter. Burney Co.’s holdings in Baker Hughes were worth $454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BKR. Vanguard Group Inc. grew its stake in Baker Hughes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company’s stock worth $5,367,096,000 after buying an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company’s stock worth $515,367,000 after acquiring an additional 175,495 shares in the last quarter. Invesco Ltd. grew its stake in shares of Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company’s stock worth $474,226,000 after acquiring an additional 283,454 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Baker Hughes by 3.9% during the first quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company’s stock valued at $442,491,000 after acquiring an additional 376,654 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Baker Hughes by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company’s stock valued at $407,083,000 after acquiring an additional 707,471 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is owned by insiders.

Baker Hughes Price Performance

NASDAQ:BKR opened at $47.04 on Thursday. The firm’s fifty day moving average is $47.15 and its two-hundred day moving average is $42.29. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $5.09 billion during the quarter. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Analyst Ratings Changes

BKR has been the topic of several research analyst reports. Melius Research began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a “buy” rating and a $60.00 target price on the stock. Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on Baker Hughes in a research report on Wednesday, July 30th. Melius assumed coverage on Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.