Baker Hughes (NASDAQ:BKR) CAO Rebecca Charlton Sells 5,088 Shares

Baker Hughes Company (NASDAQ:BKRGet Free Report) CAO Rebecca Charlton sold 5,088 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Baker Hughes Price Performance

NASDAQ BKR opened at $64.27 on Thursday. Baker Hughes Company has a fifty-two week low of $36.99 and a fifty-two week high of $70.41. The stock’s 50-day moving average is $63.86 and its two-hundred day moving average is $57.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The firm has a market cap of $63.76 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Hedge Funds Weigh In On Baker Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EFG International AG bought a new position in Baker Hughes during the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. increased its stake in Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock valued at $27,000 after acquiring an additional 468 shares during the period. Quarry LP bought a new position in Baker Hughes during the fourth quarter valued at about $31,000. MV Capital Management Inc. bought a new position in Baker Hughes during the fourth quarter valued at about $34,000. Finally, Acumen Wealth Advisors LLC bought a new position in Baker Hughes during the fourth quarter valued at about $35,000. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Barclays reissued an “equal weight” rating and issued a $74.00 price target (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Friday, April 24th. Susquehanna lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Finally, Zacks Research lowered Baker Hughes from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.14.

Check Out Our Latest Report on Baker Hughes

Baker Hughes Company Profile

(Get Free Report)

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.

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