Baker Hughes Company $BKR Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Baker Hughes Company (NASDAQ:BKR) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,701,257 shares of the company’s stock after selling 1,126,512 shares during the period. Victory Capital Management Inc.’s holdings in Baker Hughes were worth $350,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after acquiring an additional 598,159 shares during the last quarter. Cardano Risk Management B.V. raised its stake in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock worth $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Capital World Investors raised its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the last quarter. Geode Capital Management LLC raised its stake in Baker Hughes by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after acquiring an additional 204,534 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock worth $1,262,033,000 after acquiring an additional 1,728,016 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $63.14 on Friday. The stock has a 50-day simple moving average of $64.12 and a two-hundred day simple moving average of $57.88. The firm has a market capitalization of $62.64 billion, a P/E ratio of 20.17, a PEG ratio of 2.26 and a beta of 0.93. Baker Hughes Company has a fifty-two week low of $37.38 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data 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. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, equities analysts forecast that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BKR shares. Stifel Nicolaus raised their target price on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Johnson Rice started coverage on Baker Hughes in a research note on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Capital One Financial lifted their price objective on Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Finally, Susquehanna lifted their price objective on Baker Hughes from $70.00 to $80.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.14.

About Baker Hughes

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.