Baker Hughes (NASDAQ:BKR) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its position in Baker Hughes (NASDAQ:BKR) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,536 shares of the company’s stock after selling 999 shares during the quarter. SVB Wealth LLC’s holdings in Baker Hughes were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in Baker Hughes in the fourth quarter valued at $33,000. OFI Invest Asset Management purchased a new position in Baker Hughes in the third quarter valued at $36,000. Quarry LP boosted its holdings in Baker Hughes by 41.3% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares during the period. Rational Advisors LLC boosted its holdings in Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the period. Finally, Covestor Ltd boosted its holdings in 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 purchasing an additional 690 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Up 1.2 %

Baker Hughes stock opened at $32.60 on Monday. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The company has a market capitalization of $32.63 billion, a P/E ratio of 17.07, a PEG ratio of 0.62 and a beta of 1.42. The stock has a 50-day simple moving average of $31.68 and a 200-day simple moving average of $32.56.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Equities research analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s payout ratio is 43.98%.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BKR. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Barclays decreased their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. TD Cowen lifted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup decreased their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.07.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.