DUTCH ASSET Corp Sells 18,994 Shares of Baker Hughes Company $BKR

DUTCH ASSET Corp reduced its position in shares of Baker Hughes Company (NASDAQ:BKR) by 82.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,050 shares of the company’s stock after selling 18,994 shares during the period. DUTCH ASSET Corp’s holdings in Baker Hughes were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. EFG International AG bought a new position in Baker Hughes during the 4th quarter worth $26,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Baker Hughes by 49.0% in the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after acquiring an additional 214 shares during the period. Quarry LP bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $31,000. Finally, MV Capital Management Inc. acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $34,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes 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 completion of the transaction, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by insiders.

Baker Hughes Stock Down 1.4%

Shares of NASDAQ BKR opened at $55.15 on Tuesday. The stock has a market capitalization of $54.71 billion, a P/E ratio of 17.62, a PEG ratio of 2.32 and a beta of 0.96. The stock’s fifty day moving average is $60.66 and its 200 day moving average is $59.69. Baker Hughes Company has a 52 week low of $39.47 and a 52 week high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Sell-side analysts forecast that Baker Hughes Company will post 2.27 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio is 29.39%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BKR. TD Cowen raised their price target on shares of Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Jefferies Financial Group reissued a “buy” rating on shares of Baker Hughes in a report on Thursday, July 9th. Citigroup increased their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. UBS Group raised their target price on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Wolfe Research initiated coverage on shares of Baker Hughes in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price target for the company. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.00.

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.