Baker Hughes (NASDAQ:BKR) Insider Sells $298,919.52 in Stock

Baker Hughes Company (NASDAQ:BKR) insider Maria Georgia Magno sold 5,063 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider directly owned 15,555 shares of the company’s stock, valued at approximately $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Maria Georgia Magno also recently made the following trade(s):

• On Monday, February 9th, Maria Georgia Magno sold 19,150 shares of Baker Hughes stock. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50.

Baker Hughes Stock Down 2.9%

BKR stock traded down $1.64 during trading on Friday, reaching $54.26. The stock had a trading volume of 17,459,380 shares, compared to its average volume of 8,790,979. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $57.31 and a 200 day moving average price of $50.75. The company has a market capitalization of $53.62 billion, a P/E ratio of 20.87, a PEG ratio of 1.51 and a beta of 0.83. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $67.00.

Baker Hughes (NASDAQ:BKR) last announced its 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 company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BKR shares. Johnson Rice assumed coverage on Baker Hughes in a research report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Jefferies Financial Group upped their price target on shares of Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, January 31st. Argus increased their price objective on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday, January 27th. Finally, Stifel Nicolaus raised their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently made changes to their positions in the company. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares during the period. EFG International AG acquired a new stake in shares of Baker Hughes in the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. increased its holdings in shares of Baker Hughes by 344.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the period. Quarry LP bought a new stake in Baker Hughes in the 4th quarter valued at about $31,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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.