Rebecca Charlton Sells 5,088 Shares of Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes Company (NASDAQ:BKR) CAO Rebecca Charlton sold 5,088 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value 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 approximately $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Baker Hughes Stock Up 2.9%

Shares of NASDAQ BKR opened at $66.11 on Friday. Baker Hughes Company has a 12-month low of $37.08 and a 12-month high of $70.41. The company has a market cap of $65.59 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.29 and a beta of 0.93. 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 fifty day moving average price of $63.91 and a 200 day moving average price of $57.31.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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. 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 firm earned $0.51 EPS. The firm’s quarterly 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 Announces Dividend

The business also recently declared 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 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is currently 29.39%.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently modified their holdings of BKR. EFG International AG bought a new position in shares of Baker Hughes during the fourth quarter worth about $26,000. Cullen Frost Bankers Inc. lifted its position in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the last quarter. Quarry LP bought a new position in shares of Baker Hughes during the fourth quarter worth about $31,000. MV Capital Management Inc. bought a new position in shares of Baker Hughes during the fourth quarter worth about $34,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of Baker Hughes during the fourth quarter worth about $35,000. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets increased their price target on Baker Hughes from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Zacks Research cut shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Royal Bank Of Canada upped their price objective on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Barclays reissued an “equal weight” rating and issued a $74.00 price objective (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

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.