DnB Asset Management AS decreased its position in Baker Hughes (NYSE:BKR – Get Rating) by 39.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,737 shares of the company’s stock after selling 98,375 shares during the period. DnB Asset Management AS’s holdings in Baker Hughes were worth $4,352,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in Baker Hughes in the 1st quarter worth about $27,000. DB Wealth Management Group LLC bought a new position in Baker Hughes in the 1st quarter worth about $34,000. Covestor Ltd boosted its holdings in shares of Baker Hughes by 104.7% in the first quarter. Covestor Ltd now owns 1,349 shares of the company’s stock valued at $49,000 after acquiring an additional 690 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Baker Hughes in the first quarter valued at approximately $50,000. Finally, NuWave Investment Management LLC bought a new position in shares of Baker Hughes in the second quarter valued at approximately $50,000. Institutional investors own 96.62% of the company’s stock.
Insiders Place Their Bets
In related news, Director Michael R. Dumais bought 10,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was bought at an average price of $24.39 per share, for a total transaction of $243,900.00. Following the transaction, the director now directly owns 24,977 shares in the company, valued at $609,189.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.
Baker Hughes Stock Up 1.6 %
Baker Hughes (NYSE:BKR – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). The firm had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Baker Hughes had a negative net margin of 2.27% and a positive return on equity of 3.82%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. As a group, research analysts expect that Baker Hughes will post 0.94 earnings per share for the current year.
Baker Hughes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th were given a $0.18 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.98%. Baker Hughes’s payout ratio is -167.44%.
Analyst Ratings Changes
Several research analysts have recently issued reports on BKR shares. Royal Bank of Canada decreased their price objective on shares of Baker Hughes from $41.00 to $36.00 in a report on Thursday, July 21st. Susquehanna decreased their price objective on shares of Baker Hughes from $39.00 to $35.00 in a report on Thursday, July 21st. Seaport Res Ptn reiterated a “buy” rating on shares of Baker Hughes in a report on Thursday, July 21st. BMO Capital Markets decreased their price objective on shares of Baker Hughes from $33.00 to $30.00 in a report on Thursday, July 21st. Finally, Susquehanna Bancshares decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.11.
Baker Hughes Profile
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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