Yousif Capital Management LLC Sells 2,241 Shares of Baker Hughes Company $BKR

Yousif Capital Management LLC lowered its position in Baker Hughes Company (NASDAQ:BKR) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,670 shares of the company’s stock after selling 2,241 shares during the quarter. Yousif Capital Management LLC’s holdings in Baker Hughes were worth $4,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Baker Hughes during the 1st quarter worth approximately $28,000. N.E.W. Advisory Services LLC bought a new position in shares of Baker Hughes during the 1st quarter worth approximately $30,000. Golden State Wealth Management LLC lifted its position in shares of Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after buying an additional 604 shares during the period. Grove Bank & Trust lifted its position in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after buying an additional 320 shares during the period. Finally, Spire Wealth Management lifted its position in shares of Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after buying an additional 465 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.5%

NASDAQ BKR opened at $44.83 on Wednesday. The stock has a fifty day moving average of $45.99 and a 200-day moving average of $41.35. The stock has a market capitalization of $44.20 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.99. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $50.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. On average, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is 30.07%.

Insider Activity

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 553,068 shares of company stock valued at $24,712,651. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on BKR shares. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a research report on Wednesday, July 30th. UBS Group lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Capital One Financial lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.57.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.