Baker Hughes (NASDAQ:BKR) EVP Sells $2,247,120.00 in Stock

Baker Hughes (NASDAQ:BKRGet Rating) EVP Rami Qasem sold 72,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.21, for a total transaction of $2,247,120.00. Following the sale, the executive vice president now directly owns 32,523 shares in the company, valued at $1,015,042.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $30.25 on Tuesday. Baker Hughes has a twelve month low of $20.42 and a twelve month high of $39.78. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $25.09 and a 200-day moving average of $27.95. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of -65.76 and a beta of 1.52.

Baker Hughes (NASDAQ:BKRGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Baker Hughes had a negative net margin of 2.36% and a positive return on equity of 4.77%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Baker Hughes will post 0.86 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be given a dividend of $0.19 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, November 4th. This represents a $0.76 annualized dividend and a dividend yield of 2.51%. Baker Hughes’s dividend payout ratio (DPR) is -165.22%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BKR. ATB Capital dropped their target price on shares of Baker Hughes to $37.00 in a report on Thursday, October 20th. Morgan Stanley increased their price objective on shares of Baker Hughes from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, October 20th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Baker Hughes in a report on Thursday, July 21st. Jefferies Financial Group began coverage on shares of Baker Hughes in a report on Wednesday, October 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Stephens dropped their price objective on shares of Baker Hughes from $40.00 to $32.00 in a report on Thursday, July 21st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. boosted its holdings in shares of Baker Hughes by 1.5% in the first quarter. Shell Asset Management Co. now owns 22,464 shares of the company’s stock worth $818,000 after buying an additional 328 shares during the period. Signaturefd LLC boosted its holdings in shares of Baker Hughes by 15.8% in the third quarter. Signaturefd LLC now owns 2,517 shares of the company’s stock worth $53,000 after buying an additional 344 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Baker Hughes by 36.2% in the first quarter. Benjamin Edwards Inc. now owns 1,464 shares of the company’s stock worth $53,000 after purchasing an additional 389 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Baker Hughes by 5.8% in the second quarter. Orion Portfolio Solutions LLC now owns 7,159 shares of the company’s stock worth $207,000 after purchasing an additional 390 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Baker Hughes by 2.5% in the third quarter. Lazard Asset Management LLC now owns 15,848 shares of the company’s stock worth $332,000 after purchasing an additional 392 shares in the last quarter. 96.62% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Company Profile

(Get Rating)

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.

Read More

Insider Buying and Selling by Quarter for Baker Hughes (NASDAQ:BKR)

Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.