Ensign Peak Advisors Inc Sells 148,529 Shares of Baker Hughes Company $BKR

Ensign Peak Advisors Inc decreased its position in shares of Baker Hughes Company (NASDAQ:BKR) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,468,058 shares of the company’s stock after selling 148,529 shares during the period. Ensign Peak Advisors Inc’s holdings in Baker Hughes were worth $56,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new position in shares of Baker Hughes in the first quarter worth about $30,000. Harbour Investments Inc. increased its position in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after buying an additional 326 shares during the period. LFA Lugano Financial Advisors SA bought a new position in Baker Hughes in the 2nd quarter worth approximately $36,000. Zions Bancorporation National Association UT acquired a new position in shares of Baker Hughes during the first quarter worth approximately $45,000. Finally, LRI Investments LLC boosted its position in shares of Baker Hughes by 59.3% in the second quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock valued at $40,000 after acquiring an additional 384 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKR has been the subject of several research analyst reports. Melius Research initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 target price for the company. Bank of America boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Barclays increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Jefferies Financial Group boosted their price target on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday. Twenty-three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.42.

Insider Activity at Baker Hughes

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

Baker Hughes Price Performance

Shares of BKR stock opened at $48.07 on Friday. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92. The stock has a market capitalization of $47.43 billion, a PE ratio of 16.58, a PEG ratio of 2.06 and a beta of 1.03. 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’s fifty day moving average is $47.66 and its 200-day moving average is $43.13.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results 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. Equities research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Baker Hughes Company Profile

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.