Insider Selling: Baker Hughes (NASDAQ:BKR) CAO Sells $326,751.36 in Stock

Baker Hughes Company (NASDAQ:BKR) CAO Rebecca Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Baker Hughes Trading Down 5.3%

NASDAQ BKR opened at $62.59 on Friday. The stock has a 50 day moving average of $63.91 and a 200-day moving average of $57.34. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The company has a market cap of $62.09 billion, a PE ratio of 20.00, a PEG ratio of 2.35 and a beta of 0.93. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) 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 business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Baker Hughes Company will post 2.31 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 29.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Baker Hughes by 15.2% in the first quarter. Parallel Advisors LLC now owns 13,421 shares of the company’s stock valued at $819,000 after acquiring an additional 1,772 shares during the last quarter. NewEdge Advisors LLC grew its position in Baker Hughes by 54.9% in the first quarter. NewEdge Advisors LLC now owns 59,390 shares of the company’s stock valued at $3,626,000 after acquiring an additional 21,047 shares during the last quarter. Groupama Asset Managment grew its position in Baker Hughes by 0.6% in the first quarter. Groupama Asset Managment now owns 1,932,305 shares of the company’s stock valued at $117,967,000 after acquiring an additional 11,297 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Baker Hughes in the first quarter valued at about $356,000. Finally, BankChampaign National Association bought a new position in Baker Hughes in the first quarter valued at about $989,000. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BKR shares. Royal Bank Of Canada raised their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, April 27th. TD Cowen raised their price target on Baker Hughes from $64.00 to $75.00 and gave the company a “buy” rating in a report on Monday, April 27th. Evercore reaffirmed an “outperform” rating and set a $76.00 price target on shares of Baker Hughes in a report on Monday, April 27th. Barclays reaffirmed an “equal weight” rating and set a $74.00 price target (up from $62.00) on shares of Baker Hughes in a report on Thursday, May 7th. Finally, UBS Group raised their price target on Baker Hughes from $69.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.14.

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.