DUTCH ASSET Corp Sells 18,994 Shares of Baker Hughes Company $BKR

DUTCH ASSET Corp decreased its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 82.4% in the 1st quarter, Holdings Channel reports. The fund owned 4,050 shares of the company’s stock after selling 18,994 shares during the period. DUTCH ASSET Corp’s holdings in Baker Hughes were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bleakley Financial Group LLC increased its position in Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after purchasing an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC boosted its stake in shares of Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after purchasing an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC increased its stake in shares of Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after buying an additional 180 shares during the period. Finally, 3Chopt Investment Partners LLC raised its holdings in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock valued at $1,944,000 after buying an additional 203 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Citigroup upped their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their price target on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, TD Cowen boosted their price objective on shares of Baker Hughes from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.00.

Baker Hughes Price Performance

Baker Hughes stock opened at $55.15 on Tuesday. The stock’s 50 day moving average is $60.66 and its 200 day moving average is $59.69. Baker Hughes Company has a one year low of $39.47 and a one year high of $70.41. The firm has a market cap of $54.71 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes Company will post 2.27 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio is 29.39%.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares in the company, valued at $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by corporate insiders.

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.