Pacer Advisors Inc. Trims Stake in Baker Hughes Company $BKR

Pacer Advisors Inc. lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 44.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,847 shares of the company’s stock after selling 66,453 shares during the period. Pacer Advisors Inc.’s holdings in Baker Hughes were worth $5,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of BKR. Bleakley Financial Group LLC raised 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 valued at $1,556,000 after buying an additional 163 shares during the period. Resolute Wealth Strategies LLC boosted its stake in Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after buying an additional 172 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after acquiring an additional 179 shares during the last quarter. Krilogy Financial LLC increased its position in shares of Baker Hughes by 3.2% during the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after acquiring an additional 180 shares during the last quarter. Finally, 3Chopt Investment Partners LLC raised its stake in shares of Baker Hughes by 0.5% in the 4th 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. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 that occurred 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 sale, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was 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 valued at $22,420,797 over the last three months. 0.19% of the stock is currently owned by insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $61.67 on Thursday. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes Company has a 52-week low of $41.96 and a 52-week high of $70.41. The firm has a market cap of $61.22 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company’s 50 day moving average is $59.12 and its two-hundred day moving average is $60.57.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 EPS 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 posted $0.63 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Baker Hughes Company will post 2.46 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Analyst Ratings Changes

BKR has been the topic of several recent analyst reports. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Citigroup raised their price target on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings cut Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Susquehanna boosted their price objective on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a report on Tuesday, July 28th. Finally, TD Cowen increased their target price on Baker Hughes from $77.00 to $78.00 and gave the stock 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 given a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.95.

Baker Hughes Company 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.