Headlands Technologies LLC Sells 8,771 Shares of Baker Hughes Company $BKR

Headlands Technologies LLC cut its stake in Baker Hughes Company (NASDAQ:BKR) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,400 shares of the company’s stock after selling 8,771 shares during the period. Headlands Technologies LLC’s holdings in Baker Hughes were worth $5,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bleakley Financial Group LLC grew its holdings in Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after acquiring an additional 163 shares during the last quarter. 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 valued at $403,000 after acquiring an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after purchasing an additional 179 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after acquiring an additional 203 shares during the period. Finally, Evolve Private Wealth LLC boosted its stake in shares of Baker Hughes by 2.4% during the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after acquiring an additional 203 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKR. Barclays decreased their price objective on shares of Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Baker Hughes in a research note on Thursday, July 9th. Finally, Stifel Nicolaus upped their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.67.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $62.41 on Monday. The business’s fifty day simple moving average is $59.26 and its 200-day simple moving average is $61.46. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 12-month low of $43.92 and a 12-month high of $70.41. The company has a market capitalization of $61.95 billion, a PE ratio of 20.13, a P/E/G ratio of 1.94 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Sunday, July 26th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Baker Hughes’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that Baker Hughes Company will post 2.51 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio is presently 29.68%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, 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 transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This trade represents a 20.50% decrease in their position. The transaction 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. Also, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were 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 $1,027,327.34. This represents a 24.13% 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. Over the last three months, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

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.