Guinness Asset Management LTD Reduces Stock Position in Baker Hughes Company $BKR

Guinness Asset Management LTD lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 9.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 149,694 shares of the company’s stock after selling 16,341 shares during the period. Guinness Asset Management LTD’s holdings in Baker Hughes were worth $5,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BKR. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at about $28,000. Golden State Wealth Management LLC lifted its holdings in shares of Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Baker Hughes in the first quarter valued at about $30,000. Harbour Investments Inc. boosted its holdings in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company’s stock valued at $36,000 after buying an additional 465 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Down 3.3%

Shares of NASDAQ BKR opened at $47.30 on Monday. The stock has a market capitalization of $46.63 billion, a PE ratio of 16.31, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average of $46.53 and a 200-day moving average of $41.75. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. The company had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. On average, analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BKR shares. Royal Bank Of Canada raised their price objective on shares of Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Susquehanna lifted their price target on shares of Baker Hughes from $52.00 to $56.00 and gave the company a “positive” rating in a research report on Thursday, October 2nd. Citigroup upped their price target on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Piper Sandler raised their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.91.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares in the company, valued at approximately $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

About Baker Hughes

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.