Baker Hughes Company $BKR Shares Bought by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Baker Hughes Company (NASDAQ:BKR) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,776,730 shares of the company’s stock after purchasing an additional 91,357 shares during the period. Royal Bank of Canada’s holdings in Baker Hughes were worth $108,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. EFG International AG acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. increased its stake 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 in the last quarter. Quarry LP acquired a new position in shares of Baker Hughes during the 4th quarter worth about $31,000. MV Capital Management Inc. purchased a new position in Baker Hughes in the 4th quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC purchased a new position in Baker Hughes in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction 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 owned 703,444 shares in the company, valued at approximately $41,102,232.92. This trade represents a 20.50% 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. In the last three months, insiders have sold 367,910 shares of company stock worth $22,420,797. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BKR. Capital One Financial lifted their price target on Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Susquehanna raised their price objective on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a report on Tuesday. HSBC lifted their target price on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada increased their target price 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, BMO Capital Markets raised their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.95.

Baker Hughes Stock Up 2.0%

NASDAQ:BKR opened at $59.90 on Friday. Baker Hughes Company has a 52 week low of $41.96 and a 52 week high of $70.41. The stock’s fifty day moving average is $59.47 and its two-hundred day moving average is $60.25. The stock has a market capitalization of $59.42 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.96. The company has a quick ratio of 1.77, a current ratio of 2.09 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that Baker Hughes Company will post 2.4 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.68%.

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.