Baker Hughes (NASDAQ:BKR) Director John Rice Acquires 10,000 Shares of Stock

Baker Hughes Company (NASDAQ:BKR) Director John Rice purchased 10,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average price of $53.10 per share, with a total value of $531,000.00. Following the acquisition, the director directly owned 77,315 shares in the company, valued at $4,105,426.50. This trade represents a 14.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Baker Hughes Trading Down 7.4%

NASDAQ BKR opened at $46.20 on Friday. Baker Hughes Company has a 12 month low of $44.26 and a 12 month high of $70.41. The company has a 50-day moving average of $57.20 and a 200-day moving average of $60.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. The company has a market cap of $45.86 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.38 and a beta of 1.07.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The business had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.74 billion. During the same period last year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Baker Hughes Company will post 2.56 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Freedom Broker raised shares of Baker Hughes from a “sell” rating to a “hold” rating and boosted their price objective for the company from $51.00 to $52.00 in a research note on Friday, October 30th. Citigroup cut their target price on Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. TD Cowen lifted their target price on Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Jefferies Financial Group reduced their target price on Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Finally, Royal Bank Of Canada lowered their price target on Baker Hughes from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $70.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi lifted its holdings in shares of Baker Hughes by 28.2% in the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after purchasing an additional 2,409,978 shares during the last quarter. Advent International L.P. bought a new position in Baker Hughes during the 1st quarter worth $72,309,000. Assenagon Asset Management S.A. increased its position in Baker Hughes by 1,289.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock worth $72,630,000 after buying an additional 1,123,391 shares during the period. Perpetual Ltd increased its position in Baker Hughes by 24.0% in the third quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after buying an additional 765,582 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Baker Hughes in the third quarter worth $38,380,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.