Baker Hughes Company $BKR Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 44.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,847 shares of the company’s stock after selling 66,453 shares during the period. Pacer Advisors Inc.’s holdings in Baker Hughes were worth $5,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bleakley Financial Group LLC increased its holdings in shares of Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after acquiring an additional 163 shares during the last quarter. Resolute Wealth Strategies LLC lifted its stake in Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after purchasing an additional 172 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after purchasing an additional 179 shares during the last quarter. Krilogy Financial LLC boosted its holdings in Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after purchasing an additional 180 shares in the last quarter. Finally, 3Chopt Investment Partners LLC boosted its holdings in Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after purchasing an additional 203 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wolfe Research started coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 price objective on the stock. Susquehanna upped their target price on shares of Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a report on Tuesday, July 28th. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $69.95.

Baker Hughes Trading Down 0.1%

NASDAQ BKR opened at $61.67 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The firm has a market cap of $61.22 billion, a PE ratio of 19.89, a P/E/G ratio of 1.96 and a beta of 0.97. Baker Hughes Company has a one year low of $41.96 and a one year high of $70.41. The firm’s fifty day moving average is $59.12 and its two-hundred day moving average is $60.57.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts expect that Baker Hughes Company will post 2.46 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is presently 29.68%.

Insider Buying and Selling

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. 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. Insiders have sold a total of 367,910 shares of company stock valued at $22,420,797 over the last ninety days. 0.19% of the stock is owned by insiders.

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.