United Capital Management of KS Inc. Decreases Stock Holdings in Baker Hughes Company $BKR

United Capital Management of KS Inc. trimmed its position in Baker Hughes Company (NASDAQ:BKR) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,100 shares of the company’s stock after selling 15,553 shares during the quarter. United Capital Management of KS Inc.’s holdings in Baker Hughes were worth $4,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the period. Capital World Investors increased its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after buying an additional 3,153,709 shares during the period. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after buying an additional 204,534 shares during the period. Capital Research Global Investors increased its stake in shares of Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after buying an additional 1,728,016 shares during the period. Finally, Norges Bank purchased a new position in shares of Baker Hughes in the fourth quarter worth $1,022,491,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Baker Hughes in a research note on Monday, April 27th. Johnson Rice initiated coverage on shares of Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price target on the stock. Argus lifted their price target on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. Zacks Research cut shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, HSBC lifted their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.14.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $63.14 on Friday. The stock has a market cap of $62.64 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. The firm’s fifty day simple moving average is $64.12 and its 200 day simple moving average is $57.88. Baker Hughes Company has a twelve month low of $37.38 and a twelve month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, research analysts predict that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders 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 1.5%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

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.