Baker Hughes Company $BKR Stock Holdings Trimmed by Praxis Investment Management Inc.

Praxis Investment Management Inc. lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,776 shares of the company’s stock after selling 15,504 shares during the period. Praxis Investment Management Inc.’s holdings in Baker Hughes were worth $2,768,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BKR. Activest Wealth Management raised its stake in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 252 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock valued at $50,000 after acquiring an additional 798 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. This trade represents a 24.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 569,400 shares of company stock worth $34,120,287 over the last ninety days. 0.19% of the stock is owned by insiders.

Baker Hughes Stock Down 1.6%

Shares of Baker Hughes stock opened at $66.67 on Thursday. The stock’s fifty day moving average is $62.09 and its 200-day moving average is $54.74. The firm has a market capitalization of $66.14 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.46 and a beta of 0.97. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. Baker Hughes Company has a 12-month low of $35.83 and a 12-month high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. Equities analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s payout ratio is 29.39%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Piper Sandler lifted their target price on Baker Hughes from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada upped their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Zacks Research lowered Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective for the company. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.64.

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.