Baker Hughes Company $BKR Shares Sold by Xponance Inc.

Xponance Inc. decreased its holdings in Baker Hughes Company (NASDAQ:BKR) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,129 shares of the company’s stock after selling 12,093 shares during the quarter. Xponance Inc.’s holdings in Baker Hughes were worth $7,071,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after buying an additional 598,159 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Baker Hughes by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock worth $987,961,000 after buying an additional 397,984 shares in the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $862,722,000. Artisan Partners Limited Partnership boosted its holdings in shares of Baker Hughes by 1.0% in the second quarter. Artisan Partners Limited Partnership now owns 16,677,718 shares of the company’s stock valued at $639,424,000 after acquiring an additional 167,095 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Baker Hughes by 18.9% during the second quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after acquiring an additional 2,044,402 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 0.6%

Shares of Baker Hughes stock opened at $65.26 on Friday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $65.78. The firm has a market capitalization of $64.49 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $54.51 and its 200-day moving average is $49.66.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter last year, the business posted $0.70 EPS. Baker Hughes’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. Baker Hughes’s payout ratio is currently 35.38%.

Insider Activity at Baker Hughes

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares of the company’s stock, valued at $862,296.68. The trade was a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BKR shares. Citigroup upped their target price on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. iA Financial set a $60.00 price objective on Baker Hughes in a report on Tuesday, January 27th. Evercore reaffirmed an “outperform” rating and set a $68.00 target price on shares of Baker Hughes in a research note on Wednesday, February 11th. Argus boosted their price target on shares of Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Finally, Piper Sandler raised their price objective on shares of Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.39.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.