Key Points
- Baker Hughes CAO Rebecca Charlton sold 5,088 shares on June 3 for about $326,751 at an average price of $64.22. After the sale, she still held 15,997 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- The company recently beat earnings expectations, reporting $0.58 EPS versus the $0.49 consensus estimate. Revenue came in at $6.59 billion, slightly below forecasts, but still rose 2.5% year over year.
- Analysts remain broadly positive on BKR, with 18 Buy ratings, 3 Holds, and 1 Sell. The consensus price target is $69.14, and several firms recently raised their targets, including JPMorgan, Piper Sandler, RBC, BMO Capital Markets, and TD Cowen.
Baker Hughes Company (NASDAQ:BKR - Get Free Report) CAO Rebecca Charlton sold 5,088 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of 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 sale was disclosed in a document filed 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.
Baker Hughes Trading Down 0.4%
Shares of Baker Hughes stock opened at $64.27 on Thursday. The firm has a market capitalization of $63.76 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company's fifty day moving average price is $63.86 and its two-hundred day moving average price is $57.18. Baker Hughes Company has a 52-week low of $36.99 and a 52-week high of $70.41.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company posted $0.51 EPS. The company's revenue was up 2.5% compared to the same quarter last year. On average, analysts expect that Baker Hughes Company will post 2.31 EPS for the current year.
Baker Hughes Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes's dividend payout ratio is currently 29.39%.
Analysts Set New Price Targets
Several research firms have recently weighed in on BKR. Royal Bank Of Canada upped their price objective on Baker Hughes from $68.00 to $71.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Piper Sandler upped their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. BMO Capital Markets upped their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Finally, TD Cowen upped their target price on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus price target of $69.14.
View Our Latest Research Report on Baker Hughes
Institutional Investors Weigh In On Baker Hughes
A number of hedge funds and other institutional investors have recently bought and sold shares of BKR. Pinion Investment Advisors LLC bought a new stake in Baker Hughes during the 4th quarter worth about $778,000. Nordea Investment Management AB boosted its position in Baker Hughes by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company's stock valued at $125,813,000 after buying an additional 309,996 shares during the last quarter. Legal & General Group Plc boosted its position in Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company's stock valued at $348,234,000 after buying an additional 367,728 shares during the last quarter. Cibc World Market Inc. boosted its position in Baker Hughes by 13.6% in the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company's stock valued at $40,429,000 after buying an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in Baker Hughes by 10,225.3% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company's stock valued at $41,391,000 after buying an additional 841,338 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.
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.
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