Retireful LLC Decreases Stock Holdings in Baker Hughes Company $BKR

Retireful LLC reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 84.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,287 shares of the company’s stock after selling 23,425 shares during the quarter. Retireful LLC’s holdings in Baker Hughes were worth $238,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EFG International AG bought a new stake in shares of Baker Hughes during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. increased its holdings in Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock worth $40,000 after buying an additional 214 shares during the last quarter. Quarry LP purchased a new stake in Baker Hughes during the fourth quarter worth about $31,000. Finally, Jones Financial Companies Lllp bought a new stake in Baker Hughes in the second quarter worth about $39,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $64.63 on Thursday. The firm has a market capitalization of $64.16 billion, a PE ratio of 20.85, a P/E/G ratio of 2.85 and a beta of 0.96. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $59.61 and a two-hundred day moving average price of $61.53. Baker Hughes Company has a twelve month low of $43.92 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Equities analysts forecast that Baker Hughes Company will post 2.51 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s payout ratio is presently 29.68%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction 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. This represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on BKR. UBS Group set a $51.00 target price on shares of Baker Hughes in a research note on Tuesday, July 28th. Capital One Financial lifted their price target on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. TD Cowen upped their price objective on Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler increased their price objective on Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley assumed coverage on Baker Hughes in a research report on Friday, August 7th. They issued an “overweight” rating and a $70.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued 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 $70.67.

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.