Baker Hughes (NYSE:BKR) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in Baker Hughes (NYSE:BKRGet Rating) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,203,208 shares of the company’s stock after selling 1,724,283 shares during the period. Invesco Ltd.’s holdings in Baker Hughes were worth $413,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Benjamin Edwards Inc. raised its holdings in Baker Hughes by 180.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,075 shares of the company’s stock worth $26,000 after purchasing an additional 692 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Baker Hughes by 108.8% in the 4th quarter. Allworth Financial LP now owns 1,209 shares of the company’s stock valued at $29,000 after buying an additional 630 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $34,000. Koshinski Asset Management Inc. grew its holdings in Baker Hughes by 100.0% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,410 shares of the company’s stock worth $34,000 after acquiring an additional 705 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its holdings in Baker Hughes by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 2,000 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BKR opened at $36.28 on Wednesday. The business’s 50-day simple moving average is $34.77 and its 200 day simple moving average is $29.64. The company has a market cap of $37.28 billion, a P/E ratio of 109.94 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.61. Baker Hughes has a one year low of $19.23 and a one year high of $39.78.

Baker Hughes (NYSE:BKRGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. Analysts predict that Baker Hughes will post 1.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.72 dividend on an annualized basis and a yield of 1.98%. Baker Hughes’s payout ratio is currently 218.19%.

In other news, EVP Maria C. Borras sold 19,632 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $33.94, for a total transaction of $666,310.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Beattie sold 5,507 shares of the business’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $35.69, for a total value of $196,544.83. Following the completion of the sale, the director now directly owns 12,743 shares of the company’s stock, valued at $454,797.67. The disclosure for this sale can be found here. Insiders have sold 72,159,823 shares of company stock valued at $2,485,953,921 over the last 90 days. Insiders own 0.29% of the company’s stock.

Several research firms have weighed in on BKR. HSBC raised Baker Hughes from a “hold” rating to a “buy” rating and set a $38.30 target price on the stock in a report on Tuesday, April 26th. UBS Group raised their target price on shares of Baker Hughes from $28.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, March 18th. Stifel Nicolaus boosted their price target on Baker Hughes from $34.00 to $41.00 in a report on Friday, April 8th. Morgan Stanley raised their price objective on Baker Hughes from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 11th. Finally, Susquehanna dropped their target price on Baker Hughes from $42.00 to $41.00 and set a “positive” rating for the company in a research note on Thursday, April 21st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $36.38.

Baker Hughes Profile (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

Further Reading

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BKR)

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