RBF Capital LLC Sells 10,000 Shares of Baker Hughes Company $BKR

RBF Capital LLC lessened its stake in Baker Hughes Company (NASDAQ:BKR) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,000 shares of the company’s stock after selling 10,000 shares during the period. RBF Capital LLC’s holdings in Baker Hughes were worth $5,920,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after purchasing an additional 598,159 shares in the last quarter. State Street Corp raised its position in Baker Hughes by 1.6% in the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock worth $2,796,586,000 after purchasing an additional 937,614 shares in the last quarter. Cardano Risk Management B.V. raised its position in Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after purchasing an additional 44,887,481 shares in the last quarter. Capital World Investors raised its position in Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after purchasing an additional 204,534 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $61.52 on Wednesday. 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 $61.03 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.22 and a beta of 0.93. The firm has a 50 day simple moving average of $64.18 and a 200 day simple moving average of $58.12. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts predict that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were paid 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 yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Analysts Set New Price Targets

Several research firms recently issued reports on BKR. BMO Capital Markets increased their price target on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Citigroup dropped their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.14.

Insider Buying and Selling

In other Baker Hughes news, CAO Rebecca L. 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 value of $326,751.36. Following the transaction, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction on Friday, June 12th. The stock was sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the transaction, the chief executive officer directly owned 784,944 shares in the company, valued at approximately $49,734,051.84. This represents a 18.77% 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. 0.19% of the stock is currently owned by company insiders.

Baker Hughes Company Profile

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.