Baker Hughes Company $BKR Stock Holdings Cut by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 19.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,959 shares of the company’s stock after selling 6,766 shares during the quarter. Ritholtz Wealth Management’s holdings in Baker Hughes were worth $1,072,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. GAMMA Investing LLC boosted its stake in Baker Hughes by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock valued at $578,000 after purchasing an additional 2,872 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Baker Hughes by 34.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company’s stock valued at $3,246,000 after purchasing an additional 19,048 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Baker Hughes by 71.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,932 shares of the company’s stock valued at $1,359,000 after purchasing an additional 12,838 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Baker Hughes by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 115,982 shares of the company’s stock worth $5,097,000 after acquiring an additional 3,165 shares in the last quarter. Finally, Johnson Investment Counsel Inc. bought a new stake in shares of Baker Hughes during the 1st quarter worth $360,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $45.18 on Friday. The stock has a market cap of $44.54 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The business has a fifty day simple moving average of $46.08 and a 200-day simple moving average of $41.38. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business 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, sell-side analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.07%.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the 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 sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,068 shares of company stock worth $24,712,651. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BKR shares. Jefferies Financial Group set a $58.00 price objective on Baker Hughes in a research note on Wednesday, July 30th. Melius Research started coverage on Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Piper Sandler raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Zephirin Group raised their price objective on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

Baker Hughes Profile

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.