Baker Hughes (NASDAQ:BKR) CAO Sells $47,494.62 in Stock

Baker Hughes Company (NASDAQ:BKR) CAO Rebecca Charlton sold 843 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction of $47,494.62. Following the sale, the chief accounting officer owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Baker Hughes Stock Performance

BKR traded up $1.55 on Tuesday, reaching $58.00. The company had a trading volume of 9,200,172 shares, compared to its average volume of 9,605,914. The stock has a market cap of $57.23 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.74 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $58.50. The company’s fifty day moving average is $49.59 and its 200 day moving average is $47.45.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Sunday, January 25th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Krilogy Financial LLC boosted its position in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after acquiring an additional 180 shares in the last quarter. Formidable Asset Management LLC lifted its stake in Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Baker Hughes by 16.4% during the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after purchasing an additional 228 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Baker Hughes by 1.4% in the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after purchasing an additional 233 shares in the last quarter. Finally, AMG National Trust Bank increased its stake in shares of Baker Hughes by 3.7% in the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after purchasing an additional 246 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Capital One Financial increased their price objective on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. BMO Capital Markets raised their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Piper Sandler boosted their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. HSBC raised their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, UBS Group boosted their price target on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.30.

About Baker Hughes

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.