Baker Hughes Company $BKR Shares Sold by Capital World Investors

Capital World Investors reduced its holdings in Baker Hughes Company (NASDAQ:BKR) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,234,954 shares of the company’s stock after selling 311,434 shares during the period. Capital World Investors owned about 4.79% of Baker Hughes worth $2,151,080,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pinion Investment Advisors LLC acquired a new stake in Baker Hughes in the fourth quarter valued at approximately $778,000. Nordea Investment Management AB grew its holdings in Baker Hughes by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares during the period. Legal & General Group Plc grew its holdings in Baker Hughes by 5.4% in the third quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after purchasing an additional 367,728 shares during the period. Cibc World Market Inc. grew its holdings in Baker Hughes by 13.6% in the third quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after purchasing an additional 99,314 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in Baker Hughes by 10,225.3% in the third quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock valued at $41,391,000 after purchasing an additional 841,338 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 282,745 shares of company stock worth $16,651,472. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on BKR shares. Piper Sandler raised their price objective on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Argus raised their target price on Baker Hughes from $67.00 to $79.00 in a research report on Friday, May 1st. TD Cowen raised their target price on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a research report on Sunday, April 26th. Finally, UBS Group raised their target price on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $62.59 on Friday. Baker Hughes Company has a one year low of $37.38 and a one year high of $70.41. The company has a market cap of $62.09 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The business’s 50 day moving average price is $63.91 and its 200 day moving average price is $57.34.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Baker Hughes Company will post 2.31 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

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.