RBF Capital LLC Sells 10,000 Shares of Baker Hughes Company $BKR

RBF Capital LLC cut its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 130,000 shares of the company’s stock after selling 10,000 shares during the period. RBF Capital LLC’s holdings in Baker Hughes were worth $5,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Aster Capital Management DIFC Ltd bought a new stake in Baker Hughes in the 4th quarter valued at $60,000. Rakuten Investment Management Inc. lifted its position in Baker Hughes by 990.1% in the 4th quarter. Rakuten Investment Management Inc. now owns 183,034 shares of the company’s stock valued at $8,306,000 after acquiring an additional 166,243 shares in the last quarter. L2 Asset Management LLC lifted its position in Baker Hughes by 7.6% in the 4th quarter. L2 Asset Management LLC now owns 4,969 shares of the company’s stock valued at $226,000 after acquiring an additional 351 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Baker Hughes in the 4th quarter valued at $3,935,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Baker Hughes by 3.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 122,747 shares of the company’s stock valued at $5,590,000 after acquiring an additional 4,320 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction dated 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 approximately $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Friday, June 12th. The shares were sold at an average price of $63.36, for a total transaction of $11,494,200.96. Following the completion of the transaction, the chief executive officer owned 784,944 shares in the company, valued at approximately $49,734,051.84. This trade represents a 18.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Evercore reaffirmed an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a research note on Monday, April 27th. HSBC raised their price target on shares of Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. UBS Group raised their price target on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Citigroup decreased their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $69.14.

Baker Hughes Stock Down 1.5%

Baker Hughes stock opened at $61.52 on Wednesday. The firm has a market capitalization of $61.03 billion, a PE ratio of 19.65, a P/E/G ratio of 2.22 and a beta of 0.93. The company’s 50-day moving average is $64.18 and its 200-day moving average is $58.12. 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 current ratio of 2.13 and a quick ratio of 1.77.

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, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. Baker Hughes’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.31 earnings per share 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 paid 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 1.5%. Baker Hughes’s payout ratio is currently 29.39%.

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.