Key Points
- Lorenzo Simonelli, Baker Hughes’ CEO, sold 272,594 shares on March 11 at an average price of $58.79 for a total of $16,025,801.26—reducing his stake by 23.93% to 866,444 shares; he also sold 272,593 shares on March 4 for about $16.66M.
- Baker Hughes recently beat quarterly expectations (EPS $0.78 vs. $0.67; revenue $7.39B vs. $7.09B), pays a $0.23 quarterly dividend (≈1.7% yield), has a $53.6B market cap, and holds a consensus analyst rating of Moderate Buy with an average target of ~$59.61.
Baker Hughes Company (NASDAQ:BKR - Get Free Report) insider Maria Georgia Magno sold 5,063 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares of the company's stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Maria Georgia Magno also recently made the following trade(s):
- On Monday, February 9th, Maria Georgia Magno sold 19,150 shares of Baker Hughes stock. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50.
Baker Hughes Stock Performance
Shares of BKR stock opened at $54.26 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $67.00. The business's 50 day moving average is $57.31 and its two-hundred day moving average is $50.75. The company has a market capitalization of $53.62 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.51 and a beta of 0.83.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. The business had revenue of $7.39 billion during the quarter, compared to analysts' expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Baker Hughes's payout ratio is presently 35.38%.
Hedge Funds Weigh In On Baker Hughes
Institutional investors and hedge funds have recently bought and sold shares of the company. Cardano Risk Management B.V. lifted its holdings in Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Norges Bank purchased a new position in shares of Baker Hughes during the 2nd quarter worth $862,722,000. Capital International Investors acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $729,670,000. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 58.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company's stock valued at $529,896,000 after buying an additional 4,278,573 shares during the period. Finally, Bessemer Group Inc. lifted its position in Baker Hughes by 12,983.5% in the fourth quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company's stock valued at $158,994,000 after buying an additional 3,464,637 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on BKR. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Baker Hughes in a report on Monday, December 29th. Susquehanna upped their price target on shares of Baker Hughes from $58.00 to $65.00 and gave the stock a "positive" rating in a research report on Tuesday, January 27th. Piper Sandler lifted their price objective on Baker Hughes from $52.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, January 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. Finally, TD Cowen lifted their price target on Baker Hughes from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.61.
Check Out Our Latest Stock Report on Baker Hughes
Baker Hughes Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
