Baker Hughes (NYSE:BKR) Holdings Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC trimmed its stake in shares of Baker Hughes (NYSE:BKRGet Rating) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,426 shares of the company’s stock after selling 2,054 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Baker Hughes were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Neuberger Berman Group LLC boosted its stake in Baker Hughes by 16.3% during the 1st quarter. Neuberger Berman Group LLC now owns 128,050 shares of the company’s stock valued at $4,662,000 after purchasing an additional 17,912 shares in the last quarter. Toroso Investments LLC boosted its stake in Baker Hughes by 84.9% during the 1st quarter. Toroso Investments LLC now owns 20,176 shares of the company’s stock valued at $735,000 after purchasing an additional 9,266 shares in the last quarter. Capital World Investors boosted its stake in Baker Hughes by 9.4% during the 1st quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock valued at $4,241,658,000 after purchasing an additional 10,021,569 shares in the last quarter. Capital Research Global Investors boosted its stake in Baker Hughes by 9.9% during the 1st quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock valued at $3,450,984,000 after purchasing an additional 8,526,488 shares in the last quarter. Finally, Capital International Sarl raised its position in Baker Hughes by 19.0% in the first quarter. Capital International Sarl now owns 66,280 shares of the company’s stock worth $2,413,000 after acquiring an additional 10,589 shares in the last quarter. 96.62% of the stock is currently owned by institutional investors.

Insider Activity at Baker Hughes

In other news, Director Michael R. Dumais acquired 10,000 shares of Baker Hughes stock in a transaction that occurred on Thursday, July 21st. The stock was purchased at an average price of $24.39 per share, with a total value of $243,900.00. Following the completion of the transaction, the director now owns 24,977 shares in the company, valued at $609,189.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $40.00 in a research report on Friday, September 9th. The Goldman Sachs Group reduced their target price on shares of Baker Hughes from $41.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Susquehanna reduced their target price on shares of Baker Hughes from $39.00 to $35.00 in a report on Thursday, July 21st. Susquehanna Bancshares reduced their target price on shares of Baker Hughes from $39.00 to $35.00 and set a “positive” rating for the company in a report on Thursday, July 21st. Finally, Royal Bank of Canada cut their target price on Baker Hughes from $41.00 to $36.00 in a research report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Baker Hughes Trading Down 2.2 %

Shares of NYSE BKR opened at $23.80 on Monday. Baker Hughes has a one year low of $22.30 and a one year high of $39.78. The firm has a market capitalization of $24.25 billion, a PE ratio of 35.52 and a beta of 1.40. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $25.33 and a two-hundred day moving average price of $30.95.

Baker Hughes (NYSE:BKRGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.34 billion. Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, analysts predict that Baker Hughes will post 0.94 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.72 annualized dividend and a yield of 3.03%. Baker Hughes’s dividend payout ratio is presently -167.44%.

Baker Hughes Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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