Key Points
- Lorenzo Simonelli sold 272,593 Baker Hughes shares on March 4 at an average price of $61.13 (≈$16.66M), cutting his direct ownership by about 28.8% to 672,810 shares.
- Baker Hughes priced $6.5 billion of U.S. senior notes and €3 billion of euro notes across maturities to help fund its proposed acquisition of Chart Industries, indicating strong investor demand for the financing.
- The company recently beat quarterly expectations, reporting $0.78 EPS vs. $0.67 expected and $7.39B in revenue vs. $7.09B expected, and pays a $0.92 annualized dividend (≈1.5% yield).
Baker Hughes Company (NASDAQ:BKR - Get Free Report) CEO Lorenzo Simonelli sold 272,593 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $61.13, for a total value of $16,663,610.09. Following the completion of the transaction, the chief executive officer directly owned 672,810 shares in the company, valued at $41,128,875.30. This trade represents a 28.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Baker Hughes Stock Performance
NASDAQ:BKR opened at $59.81 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $67.00. The firm has a market cap of $59.11 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The business has a 50 day moving average price of $56.13 and a 200-day moving average price of $50.27.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.
Baker Hughes Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes's dividend payout ratio is 35.38%.
Baker Hughes News Summary
Here are the key news stories impacting Baker Hughes this week:
Analyst Upgrades and Downgrades
BKR has been the topic of several recent analyst reports. iA Financial set a $60.00 target price on Baker Hughes in a research note on Tuesday, January 27th. TD Cowen upped their price target on Baker Hughes from $55.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Citigroup increased their price objective on Baker Hughes from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, January 27th. Stifel Nicolaus lifted their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Finally, Barclays boosted their target price on Baker Hughes from $55.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.61.
View Our Latest Stock Analysis on BKR
Institutional Investors Weigh In On Baker Hughes
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in Baker Hughes by 2.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company's stock worth $86,230,000 after purchasing an additional 37,473 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Baker Hughes by 1,142.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,175 shares of the company's stock valued at $99,000 after buying an additional 2,000 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Baker Hughes by 32.8% during the 4th quarter. Groupama Asset Managment now owns 1,921,008 shares of the company's stock valued at $87,483,000 after buying an additional 474,583 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth about $251,000. Finally, Sonoma Allocations LLC grew its position in shares of Baker Hughes by 72.0% in the 4th quarter. Sonoma Allocations LLC now owns 8,063 shares of the company's stock worth $367,000 after buying an additional 3,376 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.
About Baker Hughes
(
Get Free Report)
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.
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