OLD Point Trust & Financial Services N A Lowers Stock Position in Baker Hughes Company $BKR

OLD Point Trust & Financial Services N A reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,500 shares of the company’s stock after selling 1,547 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Baker Hughes were worth $1,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Baker Hughes by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock valued at $578,000 after purchasing an additional 2,872 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Baker Hughes by 34.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company’s stock valued at $3,246,000 after purchasing an additional 19,048 shares during the period. Janney Montgomery Scott LLC raised its stake in Baker Hughes by 71.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,932 shares of the company’s stock valued at $1,359,000 after purchasing an additional 12,838 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Baker Hughes by 32.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company’s stock valued at $963,000 after purchasing an additional 5,313 shares during the period. Finally, Continuum Advisory LLC raised its stake in Baker Hughes by 161.2% during the 1st quarter. Continuum Advisory LLC now owns 2,515 shares of the company’s stock valued at $111,000 after purchasing an additional 1,552 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The stock was 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 owned 11,772 shares of the company’s stock, valued at approximately $588,600. This trade represents a 7.83% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $47.30 on Thursday. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 2.02 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. The stock has a 50 day moving average price of $46.33 and a 200-day moving average price of $41.51. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays reissued an “overweight” rating on shares of Baker Hughes in a research note on Tuesday, October 14th. Morgan Stanley lifted their target price on Baker Hughes from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Piper Sandler lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Citigroup lifted their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $52.91.

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.