Baker Hughes (NASDAQ:BKR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 107,125 shares of the company’s stock after selling 6,906 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Baker Hughes were worth $3,589,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at about $551,555,000. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares during the period. Cardano Risk Management B.V. acquired a new stake in Baker Hughes in the 1st quarter worth about $117,083,000. Goldman Sachs Group Inc. boosted its holdings in Baker Hughes by 47.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after buying an additional 1,822,487 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in Baker Hughes by 348.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock worth $79,452,000 after buying an additional 1,805,870 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 1.9 %

NASDAQ:BKR traded up $0.70 during trading hours on Monday, hitting $38.35. The company’s stock had a trading volume of 5,456,365 shares, compared to its average volume of 7,546,585. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $38.37. The stock has a market capitalization of $38.27 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. The stock has a fifty day moving average of $33.64 and a 200-day moving average of $32.25.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 2.11 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.19%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BKR. Wells Fargo & Company lifted their price objective on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group lifted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley raised their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Bank of America decreased their target price on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.