Insider Selling: Baker Hughes (NASDAQ:BKR) Insider Sells $1,131,956.50 in Stock

Baker Hughes Company (NASDAQ:BKR) insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares of the company’s stock, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Baker Hughes Price Performance

Shares of BKR stock opened at $61.20 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $62.27. The firm has a market capitalization of $60.39 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.65 and a beta of 0.89. The stock’s 50-day simple moving average is $51.17 and its 200-day simple moving average is $48.29.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Institutional Trading of Baker Hughes

A number of large investors have recently made changes to their positions in BKR. Vanguard Group Inc. increased its stake in Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after purchasing an additional 598,159 shares during the last quarter. State Street Corp raised its stake in shares of Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after purchasing an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. lifted its stake 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 worth $2,247,550,000 after acquiring an additional 44,887,481 shares during the period. Capital World Investors lifted its position in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after buying an additional 204,534 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Jefferies Financial Group raised their target price on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Saturday, January 31st. UBS Group upped their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Citigroup raised their target price on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, BMO Capital Markets lifted their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $58.78.

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.