Baker Hughes (NASDAQ:BKR) Director William Beattie Sells 18,023 Shares

Baker Hughes Company (NASDAQ:BKR) Director William Beattie sold 18,023 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Baker Hughes Stock Performance

NASDAQ:BKR traded down $1.81 on Thursday, reaching $57.36. 13,419,602 shares of the company’s stock were exchanged, compared to its average volume of 9,876,465. The firm has a market cap of $56.60 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock has a fifty day simple moving average of $49.94 and a 200-day simple moving average of $47.60. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $59.54.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same period in the prior year, the company posted $0.70 EPS. Baker Hughes’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. HSBC raised their price objective on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Evercore ISI set a $54.00 target price on shares of Baker Hughes in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a research note on Monday, December 29th. Finally, Capital One Financial raised their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.30.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares in the last quarter. Capital World Investors raised its position in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the period. Capital Research Global Investors lifted its stake in Baker Hughes by 7.1% in the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after purchasing an additional 1,728,016 shares during the last quarter. Geode Capital Management LLC boosted its position in Baker Hughes by 1.6% during the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after buying an additional 397,984 shares during the period. Finally, Norges Bank bought a new position in shares of Baker Hughes during the second quarter valued at about $862,722,000. Institutional investors own 92.06% of the company’s stock.

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.