Baker Hughes (NASDAQ:BKR) Director William Beattie Sells 18,023 Shares

Baker Hughes Company (NASDAQ:BKR) Director William Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $57.36 on Friday. The company has a market capitalization of $56.60 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 0.89. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $59.54. The firm’s 50 day simple moving average is $49.94 and its two-hundred day simple moving average is $47.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period last year, the firm earned $0.70 EPS. The company’s revenue was up .3% on a year-over-year basis. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BKR. Evercore ISI set a $54.00 price objective on shares of Baker Hughes in a report on Monday, October 27th. BMO Capital Markets raised their target price on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Thursday, January 15th. Argus raised their price objective on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Finally, Bank of America boosted their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $58.30.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Activest Wealth Management raised its stake in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the period. Harbour Investments Inc. lifted its stake in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Baker Hughes during the second quarter valued at approximately $36,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.