Maria Georgia Magno Sells 5,063 Shares of Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes Company (NASDAQ:BKR) insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50.

Baker Hughes Price Performance

BKR stock opened at $54.26 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. The company’s fifty day moving average price is $57.31 and its 200-day moving average price is $50.80. Baker Hughes Company has a one year low of $33.60 and a one year high of $67.00. The company has a market capitalization of $53.62 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.47 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. On average, equities analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes’s dividend payout ratio (DPR) is presently 35.38%.

Institutional Investors Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management boosted its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the period. EFG International AG purchased a new stake in Baker Hughes during the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. lifted its position in Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in Baker Hughes by 104.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after buying an additional 337 shares during the last quarter. Finally, Quarry LP purchased a new position in Baker Hughes during the fourth quarter worth $31,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Johnson Rice started coverage on Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price target for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Thursday, January 15th. Evercore reiterated an “outperform” rating and set a $68.00 target price on shares of Baker Hughes in a research report on Wednesday, February 11th. Citigroup raised their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Zephirin Group upped their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Twenty analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

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.