Baker Hughes Company $BKR Shares Sold by Strs Ohio

Strs Ohio decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 884,721 shares of the company’s stock after selling 19,035 shares during the period. Strs Ohio’s holdings in Baker Hughes were worth $54,012,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Cardano Risk Management B.V. raised its position in shares of Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Norges Bank purchased a new stake in Baker Hughes during the 4th quarter worth approximately $1,022,491,000. Capital International Investors acquired a new position in Baker Hughes during the 3rd quarter valued at approximately $729,670,000. Price T Rowe Associates Inc. MD increased its stake in Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after purchasing an additional 4,278,573 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after buying an additional 3,464,637 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the transaction, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. This 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. Insiders have sold a total of 367,910 shares of company stock worth $22,420,797 in the last quarter. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKR. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their target price on Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Zacks Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Royal Bank Of Canada boosted their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, TD Cowen raised their price objective on Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.57.

Baker Hughes Stock Performance

Shares of BKR stock opened at $52.78 on Friday. Baker Hughes Company has a 52-week low of $38.37 and a 52-week 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. The stock has a market cap of $52.36 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. The business has a 50-day simple moving average of $63.14 and a 200-day simple moving average of $58.79.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business earned $0.51 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that Baker Hughes Company will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is presently 29.39%.

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.