Dodge & Cox Sells 529,325 Shares of Baker Hughes Company $BKR

Dodge & Cox lowered its position in shares of Baker Hughes Company (NASDAQ:BKR) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,053,488 shares of the company’s stock after selling 529,325 shares during the period. Dodge & Cox owned 4.46% of Baker Hughes worth $2,146,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Activest Wealth Management boosted its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of 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 purchasing an additional 337 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Baker Hughes in the second quarter worth $36,000. Spire Wealth Management raised its position in shares of Baker Hughes by 357.8% in the third quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after buying an additional 798 shares in the last quarter. Finally, N.E.W. Advisory Services LLC boosted its stake in Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock valued at $54,000 after buying an additional 416 shares during the period. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the transaction, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. The trade was a 23.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 590,251 shares of company stock valued at $35,311,023. Insiders own 0.27% of the company’s stock.

Baker Hughes Trading Down 2.9%

NASDAQ BKR opened at $54.26 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $57.31 and its two-hundred day simple moving average is $50.75. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $67.00. The company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.51 and a beta of 0.83.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm 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 company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKR. Barclays boosted their target price on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Johnson Rice started coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 price target for the company. Stifel Nicolaus boosted their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. Finally, Zephirin Group raised their target price 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.